First-Ever Stock Split to Be Announced Soon by Multibagger Power Stock After Issuing 1:3 Bonus Twice; Promoters Hold 90%
The company has previously announced a 1:3 bonus issue twice—once in 2009 and again in 2013. This would be the first time the company announces a stock split
Indian equity benchmark indices turned negative on Wednesday, with the Nifty50 index falling over 250 points from its intraday high. The Nifty50 index has slipped below the important psychological mark of 25,000 on a intraday. However, there is one stock on the rise, which has hit its upper circuit limit of 5 per cent on Wednesday.
The stock in focus is Diamond Power Infrastructure Limited (DICABS). DICABS is the only Power Transmission & Distribution Equipment manufacturer driving India’s growth, providing solutions across the entire power transmission and distribution value chain. In a recent announcement, the company stated, “The meeting of the Board of Directors of the Company is scheduled for Tuesday, 15th October 2024, to consider and approve the subdivision/stock split of the company’s equity shares, subject to shareholder approval and other necessary clearances, if any.”
According to available data, the company has previously announced a 1:3 bonus issue twice—once in 2009 and again in 2013. This would be the first time the company announces a stock split, so keep an eye on it, as it could be significant.
Shares of Diamond Power Infrastructure have delivered multibagger returns of 754 per cent on a YTD basis and an impressive 2,764 per cent over the past year.
Disclaimer: The article is for informational purposes only and not investment advice.
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