Transformers & Rectifiers Shares Locked In Upper Circuit After Relief From World Bank

The shares of Transformers & Rectifiers India Ltd. were locked in upper circuit on Friday after the World Bank removed its name from the list of Debarred Firms and Individuals.

Apart from being removed from the list, the company has also been granted an extension for submitting its explanation in the sanctions case. The new deadline for the submission has been set as Jan. 12, 2026, the company said in an exchange filing.

"Expect a strong bounce back after this positive announcement," Chanchal S Rajora, Group CFO and Advisor Transformers & Rectifiers India told NDTV Profit. He also added that the company had presented its view in a strong manner and the announcement will help maintain the company's image. In addition, he said that there was no impact on orderbook with or without this announcement from World Bank.

This according to him was the more for the reputation and confidence of the foreign customers.

The scrip rose as much as 9.99% to Rs 318.20 apiece on Friday and was locked in upper circuit. It pared gains to trade % higher at Rs 3,720 apiece, as of 9:40 a.m. This compares to a 0.31% decline in the NSE Nifty 50 Index.

It has fallen 26.13% in the last 12 months and 44.17% year-to-date. Total traded volume so far in the day stood at 2.09 times its 30-day average. The relative strength index was at 34.27.

Out of five analysts tracking the company, two maintain a 'buy' rating, three recommend a 'hold,' and four suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target of Rs 318.25 implies an upside of 28%.