Meanwhile, the BSE Sensex was up 103.15 points, or 0.37%, to 28,324.13.

On BSE, so far 16,000 shares were traded in the counter, compared with average daily volume of 6,403 shares in the past one quarter. The stock hit a high of Rs 364.40 and a low of Rs 342 so far during the day. The stock hit a 52-week high of Rs 387.90 on 27 May 2016. The stock hit a 52-week low of Rs 167 on 26 October 2015. The stock had outperformed the market over the past 30 days till 5 October 2016, sliding 1.91% compared with 2.61% decline in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 3.95% as against Sensex's 3.75% rise.

The small-cap company has equity capital of Rs 13.26 crore. Face value per share is Rs 10.

Transformers & Rectifiers (India) (TRIL) announced that it has entered into a joint venture agreement with Jiangsu Jingke Smart Electric Company (Jingke), a company incorporated under laws of People's Republic of China (PRC) for purpose of starting the business of manufacturing and marketing of GIS/HGIS/TGIS systems and products for 220 kilovolt (kV) and below and distribution products of 40.5 kV and below in India. TRIL will hold majority of 60% of share of joint venture and balance will be held by Jingke. The company neither has any interest in Jingke nor fall within related party transactions.

TRIL is leading manufacturer of transformers and reactors upto 765 kV. The utilities find increasing usage of GIS as space becomes restriction and technology is getting advanced. This is logical foray for a TRIL for diversification in transmission & distribution (T&D) Segment.

TRIL reported net profit of Rs 0.75 crore in Q1 June 2016 as against net loss of Rs 12.49 crore in Q1 June 2015. Net sales rose 174.11% to Rs 158.52 crore in Q1 June 2016 over Q1 June 2015.

TRIL manufactures a wide range of transformers for the domestic and the international market.