Transrail Lighting shares jump over 17%; here's why

Shares of Transrail Lighting Ltd surged 17.20 per cent in Tuesday's trade to hit a high of Rs 485.40. The stock was last trading 16.62 per cent higher at Rs 483.

Despite the sharp rise, it remains down 38.16 per cent over the past one year.

Around 13.12 lakh shares were last seen changing hands on BSE today. The figure was significantly higher than the two-week average volume of 36,000 shares.

Turnover on the smallcap counter came at Rs 61.31 crore, commanding a market capitalisation (m-cap) of Rs 6,493.96 crore.

The counter gained today after the company announced the completion of Phase 1 of its brownfield expansion of the conductor manufacturing facility at its Silvassa location.

Following the expansion, Transrail Lighting's total installed conductor manufacturing capacity has increased from 24,000 km per annum to 40,800 km per annum, marking a 70 per cent increase in capacity.

The company said the expansion strengthens its conductor manufacturing capabilities and enhances execution efficiencies and its ability to cater to growing markets.

"This expansion marks a significant milestone in strengthening the Company's conductor manufacturing capabilities which enhances its execution efficiencies and capacity to cater to growing markets," said Randeep Narang, MD & CEO, Transrail Lighting.

Transrail Lighting is an engineering, procurement and construction (EPC) company focused on the power transmission and distribution business.