India, Aug. 14 -- Transformers & Rectifiers (India) Limited has received a Letter of Intent from Transmission Corporation of Andhra Pradesh Limited (APTRANSCO) for the manufacturing of transformers and related work. The order is classified as a large order, with execution scheduled over the next 13 months. The company has also confirmed that the order is from a domestic entity and is not a related-party transaction.

The development is important because transformer manufacturers are increasingly benefiting from India's power transmission expansion, particularly as renewable capacity requires additional grid infrastructure and higher-voltage transformation capacity.

Shares of Transformers & Rectifiers (India) Limited were trading at Rs 29...