Shares of this smallcap company clocked 2 percent upper circuit after receiving an order worth Rs. 409 crores from Adani Green Energy. In just one year, the stock has delivered whooping 5,343 percent returns to its shareholders. 

Price Movemnet: 

With a market capitalization of Rs. 6,659 crores, the shares of Diamond Power Infrastructure Ltd started Tuesday’s trading session on a higher note at Rs. 1,267.15, clocking a 2 percent upper circuit compared to its previous close of Rs. 1,242.35 apiece. 

What Happened: 

Such a positive movement in the share price was observed after the company in an exchange filing announced that it had received a letter of intent from Adani Green Energy Limited worth Rs. 409 crores for the supply of various LV/MV Cables. The work has to be completed within December 2024 from the date of acceptance. 

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Looking at the company’s financial statements, the revenue zoomed by 124 percent from Rs. 59.96 crores during the December quarter to Rs. 134.41 crores in the March quarter. In addition, the net profits showcased a transition from a net loss of Rs. 5.28 crores to a net profit of Rs. 14.42 crores during the same timeframe. 

Shareholding Pattern: 

According to the latest shareholding pattern, the Promoters control a majority stake of 94.88 percent, while FIIs hold 0.03 percent of the shares, and Retail Investors hold the remaining 5.10 percent stake. 


The company manufactures power cables ranging from low voltage (LV) cables starting at 1.1 kV to extra high voltage (EHV) cables up to 550 kV. 

Their cable products are used for power transmission and distribution across various industries like refineries, cement plants, power plants, engineering industries, and pharmaceuticals. 

Customer Base: 

Diamond Power Infrastructure serves a customer base that includes Servo Tech Electricals, Rail Vikas Nigam Limited, ABB India Limited, Adani Wilmar, Ambuja Cement, Bharat Heavy Electricals Limited, among others. 

Company Profile: 

Headquartered in Ahmedabad, Diamond Power Infrastructure Limited was incorporated in 1992. The company is engaged in the business of manufacturing Transmission and distribution of power products and services in India. 

Written By Vaibhav Patil 


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