Transformers and Rectifiers India Ltd receives relief from Power Grid under Atmanirbhar Bharat Package-3

Power Grid Corporation of India Limited (PGCIL), has issued guidelines for reduction of Performance Security from existing 10% to 3% under the existing contracts as well upcoming Contracts to be commenced by 31.12.2021 in line with the government of India guidelines under the Atmanirbhar Bharat Package - 3 declared on 12th November, 2020. The Company will get relief in the form of BG value reduction at approximate of Rs. 68 Crore from PGCIL. This will reduce the Bank Guarantee outstanding with the Bank's and further reduction in the contingent liability also.

The Company continuously thrives to deliver quality products and services and over a period of time has become a leading manufacturer of transformers in the Country.

Shares of TRANSFORMERS AND RECTIFIERS (INDIA) LTD. was last trading in BSE at Rs.17.79 as compared to the previous close of Rs. 18.18. The total number of shares traded during the day was 140451 in over 478 trades.

The stock hit an intraday high of Rs. 18.72 and intraday low of 16.99. The net turnover during the day was Rs. 2507865.

Source : Equity Bulls

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