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The shares of TRF Ltd. were locked in an upper circuit for the third session in a row. The company’s shares opened 10 per cent higher on Thursday and in the past five days, the share price of the company has surged 59.30 per cent from ₹168.30 apiece to the current level. 

The company’s shares are currently locked at ₹ 268.10 apiece, at a fresh 52-week high. They are at their highest level since April 2018. Their all-time high is at ₹ 2100.00 apiece (03 January 2008) and their all-time low is at ₹ 15.3 (19 October 2000). Their 52-week low is at ₹ 108.75 (28 February 2022). 

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The stock exchanges recently cut the upper circuit limit of the stock from 20 per cent to 10 per cent effective from today. 

TRF is a Tata Group company that undertakes turnkey projects of material handling for the infrastructure sector such as the power and ports sector. In addition, they undertake these projects for the industrial sector that includes steel plants, cement, fertilisers and mining. It manufactures material handling equipment at its manufacturing facility at Jamshedpur and provides services relating to supervision, design and engineering. 

Care Ratings in August 2022 revised the long-term rating of the company from ‘Negative’ to ‘Stable’ on account of a reduction in outside liability through the support of funds received from Tata Steel Limited.

Further, the company has recorded a continuous decline in cash losses over the past two years and CARE anticipates that the company is likely to turn marginally cash positive in FY23, largely on the back of order-book execution. 

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As per June 2022 data, Tata Steel Limited, TRF Limited’s promoter, holds a 34.11 per cent stake in it. TRF Limited is a small cap stock with a market capitalization of ₹ 268 crores. 

Written by Simran Bafna

Disclaimer

The content in this news article is not investment advice. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

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