Transformers & Rectifiers shares rise 10% in early deals, here's why
Transformers & Rectifiers stock reached the 10% upper circuit at ₹318.2 in early deals on Friday.
- Nov 14, 2025,
- Updated Nov 14, 2025 11:13 AM IST
Shares of Transformers & Rectifiers Ltd. (TRIL) were locked in a 10% upper circuit at Rs 318.2 in early deals on Friday. The rally follows an exchange filing that confirmed the World Bank had removed the company's name from its list of debarred firms and individuals. The company also announced that the World Bank has granted an extension for submitting TRIL's explanation in the ongoing sanctions case, with the new deadline set for January 12, 2026.
This update comes after the company experienced a sharp fall in its share price in previous sessions, which followed the earlier announcement of a four-year debarment from World Bank projects over an alleged bribery case related to a Nigerian power project.
The order at the centre of the scrutiny was received by TRIL in the financial year 2020 for $24.74 million to supply 70 transformers in Nigeria. The execution of this order was completed in the financial year 2022, and the company collected 90% of the payment last year.
Addressing the World Bank's notice, the company's management said in the filing: "The Company believes that the findings referred to in the notice are not conclusive and do not constitute proof of any misconduct. The Company reiterates that it has acted in good faith and in compliance with all applicable laws and contractual obligations," the company's management said in the filing.
TRIL stated that it continues to comply with all disclosure requirements and will inform the exchanges of any further material developments. In the filing, the company said: "We continue to adhere to all disclosure requirements and keep the exchanges informed of any further material developments," TRIL said in the filing.
The extension granted by the World Bank and the removal from the debarred list represent a significant development in the ongoing case, allowing the company additional time to respond and possibly restore participation in international projects.
Shares of Transformers & Rectifiers Ltd. (TRIL) were locked in a 10% upper circuit at Rs 318.2 in early deals on Friday. The rally follows an exchange filing that confirmed the World Bank had removed the company's name from its list of debarred firms and individuals. The company also announced that the World Bank has granted an extension for submitting TRIL's explanation in the ongoing sanctions case, with the new deadline set for January 12, 2026.
This update comes after the company experienced a sharp fall in its share price in previous sessions, which followed the earlier announcement of a four-year debarment from World Bank projects over an alleged bribery case related to a Nigerian power project.
The order at the centre of the scrutiny was received by TRIL in the financial year 2020 for $24.74 million to supply 70 transformers in Nigeria. The execution of this order was completed in the financial year 2022, and the company collected 90% of the payment last year.
Addressing the World Bank's notice, the company's management said in the filing: "The Company believes that the findings referred to in the notice are not conclusive and do not constitute proof of any misconduct. The Company reiterates that it has acted in good faith and in compliance with all applicable laws and contractual obligations," the company's management said in the filing.
TRIL stated that it continues to comply with all disclosure requirements and will inform the exchanges of any further material developments. In the filing, the company said: "We continue to adhere to all disclosure requirements and keep the exchanges informed of any further material developments," TRIL said in the filing.
The extension granted by the World Bank and the removal from the debarred list represent a significant development in the ongoing case, allowing the company additional time to respond and possibly restore participation in international projects.