Transrail Lighting shares skyrocket 10% | ₹927 cr order wins, 990 MW solar deal in focus - what investors should know
Transrail Lighting share price jumped nearly 10% on Wednesday, 21 October, after the company announced fresh orders worth ₹927 crore, largely in its domestic power transmission and distribution (T&D) business.
With these wins, the company’s order intake for the year has risen to ₹3,356 crore. The latest orders primarily comprise engineering, procurement and construction (EPC) projects for 765 kV and 400 kV transmission lines in the domestic market, along with conductor supply orders from the US.
The latest wins extend Transrail Lighting’s order-winning momentum, with the company announcing orders worth more than ₹2,300 crore over the past three weeks.
The company said its expansion of in-house manufacturing capabilities for transmission towers and conductors, coupled with robust domestic and international demand for T&D infrastructure, positions it to sustain growth.
“The strong momentum in our order inflows underscores Transrail’s growing scale and competitiveness in the power T&D sector. Our ability to secure complex transmission EPC projects, backed by our in-house tower and conductor manufacturing capabilities, remains a key differentiator,” said Randeep Narang, Managing Director and CEO of Transrail Lighting.
He added that the company would continue to leverage its strong domestic presence and expanding international business to build a well-diversified portfolio across products and services.
The company’s board also approved the proposed acquisition of a 49% equity stake in NOPL Pace Green Energy for a cash consideration of ₹20 crore, subject to the requisite approvals and fulfilment of agreed conditions.
NOPL is developing a 990 MW (AC) solar power portfolio in Maharashtra under the PM-KUSUM scheme. The portfolio is backed by a 25-year power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company (MSEDCL) at a tariff of ₹3.10 per unit.
The indicative total project cost is estimated at around ₹3,900 crore. The investment structure is designed to provide Transrail with financial and project management control under the agreed arrangements with Onix Renewable Limited.
The agreement also allows Transrail to increase its shareholding in NOPL, potentially up to 100%, subject to mutually agreed terms and applicable regulatory approvals.
Earlier this month, Transrail Lighting increased its tower manufacturing capacity by 12,000 tonnes per annum (TPA) through a brownfield expansion at its Silvassa facility.
Following the expansion, the company’s installed tower manufacturing capacity rose from 1,72,400 TPA to 1,84,400 TPA.
Narang said the company would continue to expand its manufacturing capabilities, with capacity expected to exceed 2,00,000 TPA once its planned capital expenditure programme is completed.
Mumbai-based Transrail Lighting is an engineering, procurement and construction (EPC) company primarily engaged in the power transmission and distribution business. Its operations also span civil construction, railways, poles and lighting.
Transrail Lighting share price today opened at ₹466.20 apiece on the BSE, the stock touched an intraday high of ₹494 per share, and an intraday low of ₹465 apiece.
Rajesh Bhosale, Technical Analyst at My Advisor Alpha, said the stock witnessed strong buying interest in the first hour of trade after opening with a gap-up above the previous session’s high. The price action nearly formed a bullish kicking pattern on the daily chart, with the stock extending its gains in the initial minutes.
Bhosale said sustained buying through the rest of the session would be crucial to maintaining the positive momentum. The 200-day simple moving average (200-DMA), placed around ₹503, is the immediate resistance, followed by ₹535. On the downside, ₹450, which coincides with the previous session’s low, remains a key support level.
Hitesh Tailor, Technical Research Analyst at Choice Broking, said Transrail Lighting continues to exhibit a corrective market structure, marked by lower highs and lower lows on the weekly chart. After breaking below a key trendline support, the stock attracted buying interest near its multi-month swing low of ₹394.55– ₹400 and staged a modest recovery.
Currently trading around ₹468.40, the stock has entered a sideways consolidation phase. On the upside, the ₹475– ₹480 zone represents immediate resistance, where a falling trendline converges with a previous support level that has turned into resistance, as well as the short-term moving average.
Tailor said the next resistance lies at ₹512– ₹515, near the 50-week exponential moving average (EMA). The weekly Relative Strength Index (RSI) stands at 46.10 and is moving sideways near the neutral zone, indicating a lack of strong directional momentum.
Overall, the near-term outlook remains sideways to cautious. A decisive weekly close above ₹480 would be crucial to signal a potential trend reversal and open the way for further upside, Tailor said.
Dhanya Nagasundaram works as a Content Producer at LiveMint, specializing in news related to financial markets, stocks, and business. With over eight years of experience in journalism and content creation, she has honed her skills in data-driven reporting and market analysis. Her focus is on monitoring stock trends, initial public offerings (IPOs), corporate news, policy shifts, and larger economic trends that affect investors and market players. <br><br> At LiveMint, Dhanya consistently writes and produces articles that make complex financial topics accessible to readers. She keeps a close eye on equity markets, commodities, and macroeconomic indicators, assisting audiences in comprehending how global and domestic events influence investment perspectives. Her stories frequently underscore emerging trends within sectors, the IPO market, company earnings results, and market strategies pertinent to both retail and institutional investors. <br><br> Before her tenure at LiveMint, Dhanya accumulated a wealth of professional experience at various companies, including MintGenie, Informist, Cogenics, Chary Publications, KPMG, and the Royal Bank of Scotland. These positions allowed her to establish a solid foundation in financial research, reporting, and content creation. <br><br> Throughout her career, she has explored numerous subjects such as trading strategies, commodities, IPOs, wealth generation, corporate profits, and macroeconomic indicators. Her background in both financial journalism and corporate settings has given her the ability to tackle stories with analytical rigor while ensuring clarity for her audience. Through her contributions, Dhanya strives to deliver insightful, trustworthy, and investor-centric financial content.
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HomeMarketsStock MarketsTransrail Lighting shares skyrocket 10% | ₹927 cr order wins, 990 MW solar deal in focus - what investors should know
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