Transformers and Rectifiers share price zooms nearly 20% to hit all-time high; what’s behind the rally?

Shares of Transformers & Rectifiers India, one of the leading manufacturers of transformers, have skyrocketed 19.6% in today's trade to record a new lifetime high of ₹226 apiece. This impressive rally was attributed to the company's successful completion of a dynamic short circuit on 105 MVA Transformer. “Transformers and Rectifiers has successfully completed the most stringent ‘Dynamic Short Circuit Test’ on 105 MVA, 400/√3/220/√3/33 kV class single phase auto transformer, forming a bank of 315 MVA. The dynamic short circuit test was conducted at the National High Power Test Laboratory, Bina, as per the IEC 60076-5 standard,” the company said in today's exchange filing. With the successful completion of this test, the company said it crossed a milestone of a successful dynamic short circuit test on a record 150+ transformers in the last two decades.