Multibagger Mid-cap stock hits 5% upper circuit: To consider bonus share issue on 8 January | Stock Market News

Stock Market Today: Multibagger Mid-cap stock Transformers and Rectifiers India Ltd share price gained up to 5% during the intraday trades to hit an upper circuit on Wednesday: The company in its board meeting will consider bonus share issue on 8 January 2024.

Transformers and Rectifiers India share price

The Transformers and Rectifiers India share price opened at ₹1195.95 on the BSE on Wednesday, 5% higher than the previous close of ₹1139. The 5% upside at ₹1195.95 remained the upper price band for Transformers and Rectifiers India share price and theerby the stock hit upper circuit. Transformers and Rectifiers India share price ranged between intraday highs of ₹1195.95 and lows of ₹1161.80 during the day.

Transformers and Rectifiers India share price is very close to its 1 year or 52-week high of ₹1200 seen in December. Transformers and Rectifiers India share price has risen more than 30 times in last 2 year having given Multibagger returns to its investors

Bonus Share Issue

Transformers and Rectifiers India Ltd post maket hour on Tuesday informed the Exchanges that Meeting of Board of Directors of the Company will be held on Wednesday, 8th January, 2025.

The Board of Transformers and Rectifiers India will consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine month ended 31st December, 2024.

The Board of Transformers and Rectifiers India will also consider the proposal for Issue of Bonus Equity Shares to the Shareholders of the Company

The Board further will consider and approve increase in Authorised Share Capital of the Company inter alia to accommodate Issue of Bonus Equity Shares, if any

Meanwhile in December, Transformers and Rectifiers (India) Limited had signed Share Purchase and Shareholders’ Agreement to transfer controlling stake in a strategic investment in Posco Poggenamp Electrical Steel Private Limited

Since Electrical steel, popularly known as ColdRolled Grain-Oriented (CRGO) steel, is an essential material used primarily in the cores of transformers. It is engineered to have a specific grain structure that reduces energy loss during the magnetic flux process in transformers, the Transformers and Rectifiers India is investing into Posco Poggenamp Electrical Steel.

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