3,78,500 Per Cent Multibagger Returns & 1,505 Crore Order Book: Board Of This Cables & Conductors Manufacturing Company Announces 10:1 Stock Split
The stock gave multibagger returns of 3.050 per cent in just 1 year, 1,36,000 per cent returns in 3 years and a whopping 3,78,500 per cent in 5 years.
On Friday, shares of Diamond Power Infrastructure Limited hit a 5 per cent upper circuit to Rs 1,892.85 per share from its previous closing of Rs 1,802.75 per share with a spurt in volume by more than 1.40 times on BSE. The stock also made a new 52-week high of Rs 1,892.85 and its 52-week low of Rs 60.03.
Diamond Power Infrastructure Limited (DPIL) informed that the Board of Directors has approved and recommended for the subdivision of one equity share of face value Rs 10 each into 10 equity shares of face value Re 1 each. This subdivision is being done to enhance liquidity in the capital market, widen the shareholder base, and make the shares more affordable and accessible to small and retail investors. The expected time for this subdivision is within three months from the date of shareholder approval. The record date for the subdivision/stock split will be intimated in due course after obtaining approval from the equity shareholders of the company in an extraordinary general meeting.
Additionally, DPIL has invested in the equity shares of its wholly-owned subsidiary, DICABS Nextgen Special Alloys Private Limited. This subsidiary is engaged in the manufacturing of wire rods, wire drawing, strip drawing, sheet rolling, processing, rewinding, and cables and conductors. The company is setting up three-rod mills with a capacity of 75,000 MTPA of AL 59 and other new-generation aluminium-based alloys. This investment will significantly enhance DPIL's leadership position in next-generation conductors used for power transmission. The project is expected to commence production in three phases from December 2024 to September 2025, with an estimated cost of Rs 50 crore. The acquisition is a cash consideration of Rs 2,99,97,000 for 29,99,700 equity shares of Rs 10 each. This investment will not change DPIL's shareholding in DICABS Nextgen Special Alloys Private Limited, which will continue to be a wholly-owned subsidiary.
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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 3.050 per cent in just 1 year, 1,36,000 per cent returns in 3 years and a whopping 3,78,500 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.
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