Transformers and Rectifiers shares zoom over 15%; is more steam left in this smallcap stock?

Shares of Transformers and Rectifiers (India) Ltd (TARIL) surged 15.35 per cent on Monday, closing at Rs 286.35. The sharp rise followed a strong recovery in the Nifty Smallcap 100, which jumped 2.64 per cent on the day.

In an earnings call last month, the company highlighted that it has delivered a revenue of Rs 704.21 crore with an EBITDA of Rs 114 crore in Q3 FY26. Satyen Mamtora, MD and CEO of TARIL, stated that the quarter’s performance was exceptional and represents a clear inflection point in the company’s operational momentum.

“Looking ahead, we expect strong order inflow during the second half, supported by a robust and diversified UEOB close to Rs 8,000 crore across domestic and international markets. In parallel, we are making steady progress on our backward integration, which is a critical pillar of our long-term competitiveness, margin sustainability and supply chain resilience. We have planned six backward integration facilities and execution is progressing as per schedule. The CTC plant is targeted for commissioning in ‘FY26-27, followed by Press Board facility in Q3 ‘FY26-27 and RIP bushing plant in Q4 ‘FY26-27, along with the first phase of our fabrication facility during the same period,” Mamtora also said.

Technically, some analysts noted that immediate support for TARIL’s counter could be seen in the Rs 248-245 range. That said, one of them mentioned that it appeared ‘bullish’ on charts.

According to AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, “Transformers and Rectifiers’ stock is bullish on daily charts with strong support at Rs 248. A daily close above the resistance of Rs 275 could lead to an upside target of Rs 301 in the near term.”

Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support for the stock is seen at Rs 245, while resistance is placed at Rs 275. He added that a decisive move above Rs 275 could push the stock towards Rs 295, with the expected short-term trading range pegged between Rs 245 and Rs 295.

Meanwhile, NSE data showed that promoters held a 64.36 per cent stake in the smallcap firm.