TRF Profits Skyrocket: 101% Returns In 6 Trading Sessions

Published by Trinkerr Academy on

TRF gave immense returns of 101% in just 6 trading sessions! This Tata-backed stock doubled investors’ capital and in the last six trading sessions, TRF has surged by over 100%, breaching its six-year high. Here’s a sneak peek into the company.

⚙️ Stock Name: TRF Ltd.
⚙️ NSE: $TRF

🤔 What Does It Do?
TRF is engaged in designing, manufacturing and producing bulk material handling systems and equipment for core sectors like mining, power, steel, ports and cement for projects undertaken on a turnkey basis.

⭐ Key Developments
🔧 This rally was thanks to an increase in operating profits and improvement in the order book position from Tata Steel and other clients. 75% of the order book comes from Tata Steel.

🔧 TRF promoter, Tata Steel has acquired 16.5 crores of non-convertible redeemable preference shares (NCRPS) of a face value of ₹10 each, thereby investing a sum of ₹165 crores, which is a stake of 12.17%.

🔧 Before this investment, Tata Steel as a promoter already held a 34.11% equity stake in TRF and had 25 crores of NCRPS and 2.5 crores of optionally convertible redeemable preference shares (OCRPS) of the company.

🔧 By buying NCRPS, Tata Steel will assist TRF in meeting its additional working capital requirements and also help repay the whole or a part of existing debts. Tata Steel also supports TRF by infusing funds in the form of inter-corporate deposits and unsecured loans in case of any liquidity mismatches.

Stock Value 💰
On September 12, 2022, the shares of the company were trading at ₹169.30, while they were priced at ₹340.55 as of September 20, 2022.


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