on Friday, August 14, said it has received a Letter of Intent (LoI) from the Transmission Corporation of Andhra Pradesh (APTRANSCO) for a project valued at ₹100-500 crore.
The order involves the manufacturing of transformers and related works and is scheduled for delivery over the next 13 months. The company classified the contract as a large order.
The order has been awarded by a domestic entity and will be executed in accordance with the terms and conditions specified in the LoI.
Earlier on June 30, Transformers & Rectifiers India said it had of India to manufacture and supply transformers of various capacities, along with related works.
The company classified the order under its “ultra-mega” category, which refers to contracts worth more than ₹1,000 crore, excluding GST. The exact value of the order was not disclosed.
The project is scheduled to be completed over the next 30 months.
Shares of India jumped as much as 4.4% to ₹304.95 after the announcement. The stock was trading 31% up at ₹301 apiece at 12.20 pm. It has fallen 10.7% in the past month and is down 2.2% this year, so far.