Shares of Indo Tech Transformers (Indo Tech) rallied 10 per cent to hit upper circuit of Rs 358.65, scaling over decade high in Friday’s intra-day trade. The stock quoted at its highest level since January 2010.
The stock of heavy electric equipment company traded higher for the fifth straight day, and zoomed 82 per cent after the company reported strong March quarter earnings (Q4FY23). In comparison, the S&P BSE Sensex was up 0.68 per cent, during the period.
Indo Tech is engaged in the business of manufacturing Power, Distribution, Invertor, Convertor special application transformers, catering to various industries like Transmission, Generation, Hydro, Wind, Solar, Steel, Cement, Textiles, Utilities, DESCOMS etc.
