9 April 2024 – In a remarkable display of market performance, Transformers & Rectifiers India Ltd (TRIL) has witnessed an astounding surge, achieving gains of over 730% in just one year. The stock’s upward trajectory has remained uninterrupted for 12 consecutive trading sessions, with each session witnessing significant growth.
Trading on the Bombay Stock Exchange saw TRIL’s stock locked at its upper circuit limit of 5% at Rs 498.20, further reinforcing its bullish momentum. Notably, TRIL shares have surged by over 18% in the last five trading sessions, exhibiting a remarkable increase of 52% within a month, nearly 200% over six months, and an astonishing 738% over the past year.
Amidst this stellar performance, TRIL reported a net profit of Rs 35.65 crore in Q4FY24, marking an exceptional increase of over 300% compared to the corresponding period in the previous fiscal year. Its total profit for FY24 also witnessed a substantial rise, reaching Rs 4,111 crore as opposed to Rs 3,709 crore in the preceding financial year.
Encouraged by TRIL’s strong fundamentals and optimistic growth prospects, brokerage firm Nuvama Institutional Equities has expressed a bullish outlook on the company’s stock. With expectations of a further 15% increase in the stock price, Nuvama highlighted TRIL’s robust order book, emphasizing a shift towards a higher-margin mix. The brokerage underscored TRIL’s potential to capitalize on India’s transmission capex upcycle, citing a substantial pipeline of enquiries currently under negotiation.
In light of TRIL’s significant contribution to India’s HV transformers market and its projected earnings growth, Nuvama reaffirmed its “BUY” rating with an unchanged target price of Rs 575. With a positive outlook on TRIL’s future performance, investors are closely monitoring its continued upward trajectory.
