TRIL shares surge 5% after company becomes eligible to supply to GETCO

By Aditya Bhagchandani Published on April 16, 2024, 10:28 IST

Transformers & Rectifiers (India) Ltd experienced a notable surge of 5% in its shares following the announcement that GETCO has withdrawn the ‘Stop Deal’, rendering the company eligible to supply to GETCO once again.

Transformers & Rectifiers India disclosed that it has received a Withdrawal of Stop Deal Letter dated 15 April 2024, from Gujarat Energy Transmission Corporation (GETCO), indicating the immediate withdrawal of the stop deal with the Company. Consequently, the Company is now eligible to supply to GETCO with immediate effect.

As of 10:25 am, the shares were trading 5% higher at ₹602.75 on the National Stock Exchange (NSE).

Aditya Bhagchandani

Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.