Multibagger Stock: Stock market investors look for multibagger stocks, because through these they can earn huge profits in a short time. However, the risk in these stocks is also high. One such stock is Diamond Power Infrastructure. This company has also announced a stock split, the record date for which is next week. Last Friday, a rise of 2.63 percent was seen in the company’s shares and this stock closed at a price of Rs 1499.20 on BSE. The market cap of the company is Rs 7900 crore.
Diamond Power Infra stock split
Diamond Power Infrastructure has announced a stock split in the ratio of 1:10. The record date for determining the eligibility of shareholders for this is December 3. Its board has decided to split the company’s 1 equity share of face value Rs 10 each into 10 equity shares of face value Rs 1 each. According to the data available on Trendline, this is the first time that the company is going to split its shares.
Diamond Power Infra will invest ₹3 crore in subsidiary
The Board of Diamond Power Infrastructure has also approved investment in shares of the company’s wholly owned subsidiary DICABS Nextgen Special Alloys Private Limited. This investment will be Rs 2,99,97,000 or approximately Rs 3 crore. For this, a rights issue of 29,99,700 shares of the subsidiary will be brought.
Money increased 14 times in one year
In November 2023, the price of one share of Diamond Power Infrastructure was Rs 104.18, which has increased to Rs 1499.20 today. This means that investors have got a strong return of 1340 percent in just one year. During this period, investors’ money increased more than 14 times.
Diamond Power Infra’s business
Diamond Power is a company that provides services and manufactures products for power transmission and distribution in India, with a primary focus on high-voltage cable wires. Last month, the company received a letter of intent worth Rs 109 crore from Swastika Infra Private Limited for the supply of power cable. According to the exchange filing, the firm is to supply 240 sq mm long XLPE Al 3 core cable of 11 kilovolt for a project under the schemes of MGVCL. The contract is to be executed by March 20, 2025
Disclaimer: The information provided here is based on share performance. It is important to note that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. Moneycontrol never advises anyone to invest money here.
