The thing about market booms is — by the time you spot one, the smart money has often already left the room. But every now and then, a sector stirs just in time to offer a lucrative second act. That’s exactly what’s happening in India’s transformer industry. Long overshadowed, transformer manufacturers have quietly emerged as critical players in the country’s biggest infrastructure and energy upgrade in decades. Leading the charge is Transformers and Rectifiers India Ltd (TARIL), whose stock has surged over 18x in just two years — not on hype, but on solid volume growth, rising margins, and consistent…