Upcoming 1:10 Stock Split: Tuesday, 3rd December Record Date; Is It Good To Buy Shares?

In India, Diamond Power Infrastructure Limited manufactures transmission and distributes power-related products and services. It is one of the leading producers, with more than 2,50,000 MT of installed capacity. Its product line includes 11 kV to 765 kV HVDC lines and conductors with seven to ninety strands. The company is the biggest and most comprehensive maker of power equipment in India. Following the company's announcement of the record date for the stock split, Diamond Power Infrastructure's shares closed Friday at a 5% lower circuit at Rs 1,402.55 per share, with a market capitalisation of Rs 7,391 Cr.

Diamond Power Infrastructure Stock Split

"Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform you that Tuesday, 3rd December, 2024 has been fixed as the Record Date to ascertain the eligibility of Shareholders for the purpose of sub-division / split of Equity Share having 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," said Diamond Power Infrastructure in a stock exchange filing.

Diamond Power Infrastructure Financials

In the September 2024 quarter, the company's net sales were Rs 250.30 crore, up 235.76% from Rs 74.55 crore in the September 2023 quarter. Its net profit increased by 68.9% from Rs. 2.37 crore in Q2FY24 to Rs. 4.00 crore in Q2FY25. EBITDA increased 27.24% from Rs. 10.39 crore in the September 2023 quarter to Rs. 13.22 crore in the September 2024 quarter.

Diamond Power Infrastructure Share Price Target

"Diamond Power stock price is bearish on the Daily charts with strong resistance at 1585. A Daily close below support of 1401 could lead to a target of 1250 in the near term," said A R Ramachandran, Independent Research Analyst.

Disclaimer

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