Diamond Power Infrastructure Limited, a smallcap company engaged in electrical equipment, witnessed sharp buying on Monday, November 18, despite a bearish market. The stock price froze at its 5% upper circuit, meaning there were several buyers but no sellers on this day. The performance comes after the stock announced the record date for its first-ever stock split in the ratio of 1:10.
Diamond Power Infrastructure Share Price:
The smallcap stock locked at its 5% upper circuit to Rs 1511.90 apiece on BSE, with a market cap of Rs 7,967.28 crore. The stock's 52-week high and low is Rs 1,935.80 apiece and Rs 87.21 apiece respectively.
YTD, the stock has skyrocketed by a whopping 862.07% on BSE. At the start of 2024, Diamond Power stood at Rs 157.15 apiece level.
Diamond Power Infrastructure Stock Split:
Last week, on November 15, the company announced that the board of directors had fixed Tuesday, December 3, 2024, as the Record Date to ascertain the eligibility of Shareholders for sub-division / split of Equity Shares having a face value of Rs. 10/- (Rupees Ten only) each, fully paid-up into 10 (Ten) Equity Shares having face value of Re. 1/- (Rupee One only) each fully paid up.
The stock split ratio is 1:10, which is for the first time by the company.
Unlike the stock split, Diamond Power has offered bonus shares and dividends to its investors.
Dividends: Since August 2003, the company has delivered up to 6 dividends, as per Trendlyne data. However, the last dividend payout was Rs 1 per share and that was in September 2013.
Bonus Issue: Also, the company delivered two bonus issues. The first bonus issue was 1:3 in December 2009, followed by the second bonus of also 1:3 in August 2013.
This is also means that the 1:10 stock split reward is the first since 2013 by Diamond Power.
About Diamond Power Infrastructure Ltd:
DICABS is India's largest and truly integrated power equipment manufacturer of power cables (HV, LV & EHV) & transmission towers. DICABS' state-of-the-art laboratory pioneers new technologies in the sector that have led to innovations.
Notably, DICABS is the only Power Transmission & Distribution Equipment manufacturer powering India's growth with solutions across the entire value chain of power transmission and distribution.
In its cable segment, its product range includes highly reliable LV/HV cables from 1.1 kV to 132 kV and EHV cables from 220 kV to 550 kV. The company has also evolved among the top manufacturers with an installed capacity of over 2,50,000 MT. Our product range comprises conductors of 7 strands to 90 strands and from 11 kV to 765 kV HVDC lines.
The company's plant uses state-of-the-art technology to design transmission towers that can withstand the roughest weather and have an installed capacity of 48,000 MTPA.
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