The Indian stock market ended Wednesday’s session on a strong footing, with the Sensex climbing about 595 points and the Nifty 50 closing near the 25,875 mark. The mood turned upbeat on the back of progress in US-India trade talks, the reopening of the US government, and exit polls that point to a comfortable NDA victory in the Bihar assembly elections.
According to market analysts, the combination of improving trade prospects and domestic political stability is likely to keep sentiment positive in the near term. Lower potential tariffs and better access to export markets could benefit several India-focused businesses, while the policy continuity signalled by the state election trends supports risk-on appetite.
Against this constructive backdrop, we highlight two stocks that traders and investors may consider tracking closely in today’s session:
- Transformers & Rectifiers (India) Ltd [NSE: TARIL]
- Affle 3i Ltd [NSE: AFFLE]
Transformers & Rectifiers (India) Ltd [NSE: TARIL]
Transformers & Rectifiers (India) Ltd (TRIL) has been in the spotlight for all the wrong reasons in recent days. After a long multi-year rally, the stock corrected sharply—falling about 38–39% over eight sessions and more than 50% from its all-time high—following a weaker-than-expected September quarter and news that the World Bank has debarred the company from participating in its funded projects over alleged irregularities in a Nigerian grid-upgrade project.
What’s happening fundamentally?
- September quarter pressure:
- Net profit slipped to around ₹34 crore, down roughly 24% year-on-year.
- Revenue from operations was broadly flat at ~₹460 crore.
- EBITDA fell close to 27% YoY, with margins tightening to nearly 11%, impacted by a sharp jump in employee costs.
- First-half resilience:
Despite the soft Q2 print, the H1 FY26 picture is healthier, with net profit up about 57% and revenue rising from roughly ₹784 crore to ₹989 crore. Operating margins for the first half improved compared to the previous year, indicating that the business is not structurally broken, even if the latest quarter disappointed. - World Bank debarment:
The ban on participating in World Bank–funded projects has hurt sentiment and raised governance concerns. The company has clarified that it currently has no active orders under such projects, but the overhang is likely to keep volatility elevated. - Long-term context:
Even after the correction, TRIL has delivered massive returns over the past three to five years, supported by demand from power generation and transmission, railways, renewables, infrastructure and industrial capex.
Why are we highlighting TRIL today
- Oversold after a steep drawdown:
The stock has corrected sharply in a short span, largely pricing in the weak quarter and the World Bank development. Wednesday’s ~8% intraday rebound suggests value and bargain hunters are beginning to test the waters. - Underlying demand tailwinds:
TRIL’s core markets—power T&D, railways and renewables—are all beneficiaries of India’s ongoing capex and energy-transition push. A robust order book and diversified sector exposure provide earnings visibility if execution stabilises. - Improving first-half metrics:
While Q2 was weak, the strong year-to-date profit and margin improvement indicate that the company can still deliver if the upcoming quarters normalise. - High-risk, high-reward candidate:
Given the regulatory and governance overhang, TRIL is not a conservative pick. However, for traders and aggressive investors comfortable with volatility, the current levels could offer an opportunity to play a potential relief rally or gradual re-rating if the news flow turns less negative.
Risk note: Governance concerns, a break below key support levels, or further deterioration in margins could trigger fresh downside. Position sizing and stop losses are essential if you trade this name.
Key Market Data – Transformers & Rectifiers (India) Ltd
| Metric | Value |
| Previous close (as of 12 November 2025) | ₹296.65 |
| Day range | ₹294.00 – ₹306.90 |
| 52-week range | ₹282.20 – ₹648.90 |
| Market cap | ₹89.21 billion (₹8,921 crore) |
| P/E ratio | 35.61 |
| Dividend yield | 0.07% |
| Average trading volume | 1.91 million shares |
| Company type | Midcap Stock |
| Beta | 1.47 |
Affle 3i Ltd [NSE: AFFLE]
Affle 3i Ltd, a digital advertising and consumer intelligence platform, has been a consistent compounder over the past few years. Recently, the stock has seen some price consolidation and a modest pullback from its highs, even as fundamentals have continued to improve.
Recent developments and Q2 performance
- Strong Q2 FY2026 results:
- Revenue reached around ₹6,467 million, up about 19% YoY.
- EBITDA grew nearly 29% YoY to roughly ₹1,461 million, with margin expansion of ~172 bps.
- PAT increased about 20% YoY to roughly ₹1,105 million.
- CPCU business momentum:
The company’s cost-per-converted-user (CPCU) model generated roughly 109 million conversions at an average rate of about ₹58 per conversion, underlining its ability to deliver measurable outcomes for advertisers. - Geographical diversification:
- India and global emerging markets contributed nearly 74% of revenue, growing around 20% YoY.
- Developed markets formed about 26%, growing roughly 17% YoY.
This diversified mix helps cushion market-specific risks.
- Tech & IP strength:
Affle 3i has launched Niko, an AI-driven agent for iOS automation, complementing earlier products such as OpticksAI. The company also added two new US patents in areas like user-visibility encoding and fraud-detection, taking its patent count to 16. - Talent-linked incentives:
On 12 November 2025, Affle 3i granted 84,212 stock options under its ESOP-2021 plan. The options vest over four years with an exercise price linked to the NSE closing price on 11 November 2025. This reinforces alignment between employees and shareholders and supports long-term retention. - Near-term challenges:
The company has flagged some impact from issues surrounding Real Money Gaming (RMG) advertising in India but expects festive-season demand and geographic diversification to offset this.
Why are we highlighting Affle 3i today
- Consistent growth with expanding margins:
Double-digit revenue growth, even stronger EBITDA expansion, and improving margins suggest operating leverage is kicking in, a positive sign for long-term earnings compounding. - Structural tailwinds in digital advertising:
As ad spends continue to shift toward mobile and performance-driven formats, Affle 3i’s CPCU model positions it well to capture incremental budgets, especially in high-growth emerging markets. - Innovation-driven moat:
New AI-based products, automation capabilities, and an expanding patent portfolio strengthen the company’s competitive edge and could support premium pricing over time. - Recent price consolidation offers an entry point:
Despite strong fundamentals and solid longer-term returns, the stock is currently off its 52-week high and has seen a short-term dip over the last month, giving investors a chance to accumulate on declines rather than chasing momentum.
Risk note: Affle 3i trades at a premium valuation with a P/E near 59x, so any slowdown in growth or adverse regulatory changes—especially in gaming and privacy-related areas—can lead to sharp corrections.
Key Market Data – Affle 3i Ltd
| Metric | Value |
| Previous close (as of 12 November 2025) | ₹1,775.30 |
| Day range | ₹1,753.10 – ₹1,785.80 |
| 52-week range | ₹1,246.00 – ₹2,185.90 |
| Market cap | ₹247.58 billion (₹24,758 crore) |
| P/E ratio | 59.09 |
| Dividend yield | – |
| Average trading volume | 176.27K |
| Company type | Large cap Stock |
| Beta | 1.23 |
Conclusion
Market sentiment has turned constructive on the back of positive global cues and domestic political stability, creating a favourable backdrop for selective stock-picking.
- Transformers & Rectifiers (India) Ltd suits traders and high-risk investors looking to play a potential rebound in an oversold infrastructure name, while staying mindful of governance and earnings risks.
- Affle 3i Ltd is better aligned with investors seeking exposure to structural digital-advertising growth backed by strong execution, albeit at a richer valuation and with some regulatory overhang.
Remember, stock trading does not guarantee returns. Before acting on any idea, evaluate your own risk tolerance, investment horizon, and asset allocation. Use tools such as stop-loss orders and appropriate position sizing to manage downside risk, and consider consulting a SEBI-registered investment advisor for personalised guidance.
If you’re just starting your investing journey, you can begin by opening a Demat account with Torus Digital and gradually build a diversified portfolio instead of relying on a single trading idea.
