Transformers & Rectifiers shares snap eight-day losing streak; rebound from 52-week low

Shares of Transformers & Rectifiers Ltd. gained as much as 4.5% on Monday, December 8, snapping an eight-day losing streak in the process.

The stock fell 20% during that eight-day losing streak and also declined to a 52-week low of ₹235.75 last week.

Volumes in today's session have already surpassed those last Friday. As many as 36 lakh shares have changed hands on TRIL within the first two hours of the trading session, compared to its 20-day average of 29 lakh shares.

Last week, TRIL had announced that it had won an orders worth ₹53.33 crore from Power Grid Corporation of India for the repair, erection, testing and commissioning of the 397 MVA HVDC Converter Transformer and related works.

The delivery of transformers is supposed to be done by the next financial year. TRIL said that it is the first Indian origin private sector company to receive such an order. "This opens major opportunities for the company in the HVDC segment," the company stated in its exchange filing last week.

Shares of Transformers and Rectifiers are trading 3.5% higher on Monday at ₹245.1. The stock has gained in only six out of the last 21 trading sessions. On a year-to-date basis, the stock is down nearly 60%, which is also the drawdown that the stock has seen from its current 52-week high, which is close to ₹650.