3,76,000 Per Cent Multibagger Returns & 1,505 Crore Order Book: Board Of This Cables & Conductors Manufacturing Company Is Likely To Announce Stock Split & Rights Issue
The stock gave multibagger returns of 2,750 per cent in just 1 year, 1,10,000 per cent returns in 3 years and a whopping 3,76,000 per cent in 5 years.
On Monday, shares of Diamond Power Infrastructure Limited hit 5 per cent upper circuit to Rs 1,580.10 per share from its previous closing of Rs 1,504.90 per share with a spurt in volume by more than 1.60 times on BSE. The stock’s 52-week high is Rs 1,644.95 and its 52-week low of Rs 55.48.
Diamond Power Infrastructure Limited (DPIL) hereby informs you that the Board of Directors meeting scheduled for Tuesday, October 15, 2024, has been postponed and rescheduled to Friday, October 18, 2024. In addition to the previously announced stock split, the Board will now consider a proposal for fundraising through the issuance of various instruments, including equity shares, convertible or non-convertible securities, warrants or debt securities, via preferential issue, private placements, rights issue or other permitted methods. This is subject to regulatory and statutory approvals, including shareholder approval.
Additionally, Diamond Power Infrastructure Limited has received a Letter of Intent from Swastika Infra Private Limited, a contractor for Madhya Gujarat Vij Company Limited (MGVCL), worth Rs 109,38,60,000 for the supply of Power Cables. The order is for 11KV 240 sq. mm XLPE Al 3 core cables for the Robust Project under MGVCL Schemes. The PO was awarded on a "Kms rate" basis with a PV Formulae and is to be supplied to Swastika Infra Private Limited. The order is domestic, with an execution deadline of March 2025.
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Diamond Power Infrastructure Limited (DPIL) is a veteran in India's cables and conductors industry, boasting a strong foothold as one of the nation's fastest-growing Fast Moving Electrical Goods (FMEG) companies. With a consolidated turnover of Rs 343 crore, DPIL holds the distinction of being India's largest single-location power cables and conductors manufacturer, operating five Continuous Casting and Rolling (CCV) lines and possessing an installed capacity exceeding 250,000 MTPA for conductors. The company is at the forefront of delivering robust, innovative, and energy-efficient solutions to a diverse clientele.
The outstanding order book position of the company stands at Rs 1,505 crores as of date. The stock gave multibagger returns of 2,750 per cent in just 1 year, 1,10,000 per cent returns in 3 years and a whopping 3,76,000 per cent in 5 years. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.