Transformers and Rectifiers (India) climbs on over $23-mln order win

Transformers and Rectifiers (India)

13/04/2023 08:10

** Shares of Transformers and Rectifiers (India)  TRNF.NS 
rise as much as 3.5% to 66.90 rupees, hitting their highest
since March 9
    ** However, stock trims some of the intraday gains; up 0.5%
as of 12:27 p.m. IST
    ** Co receives orders for transformers from a central
utility at a total contract value of 1.92 bln rupees ($23.4 mln)
    ** Co's order book as on date stands at 16.91 billion rupees
    ** Stock trading above its 50-, 100-, and 200-day moving
averages
    ** Moving Average Convergence Divergence (MACD) line above
the signal line since April 5, suggesting bullish momentum
    ** Co set for a third consecutive session of gain, if trends
hold
    ** More than 615,000 shares change hands by 12:27 p.m. IST,
~1.4x the 30-day avg
    ** Stock up 15.8% so far this year, up to last close

($1 = 81.9730 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((Dimpal.Gulwani@thomsonreuters.com;))