Stock market investors are constantly looking for multibagger stocks and waiting for them to make huge profits in a short time. However, such stocks are more risky. One such stock is Diamond Power Infrastructure. This company has recently done a stock split. The record date of which was December 3 last week. On Monday, December 9, this stock was trading around Rs 169 with a rise of 2.88 percent.
Multibagger Stock: 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 received a strong return of 1340 percent in just one year. During this period, the investors' money has increased 14 times.
However, before that, in the last one year, this stock has traveled from Rs 100 to Rs 1499. For example, on Friday, November 29, the company's shares rose by 2.63 percent and this stock closed at a price of Rs 1499.20 on BSE. Currently, the company's market cap is Rs 7900 crore.
Diamond Power Infra Stock Split
Diamond Power Infrastructure announced a stock split in the ratio of 1:10. For this, December 3 was fixed as the record date to determine the eligibility of shareholders. In which the company's board decided to split 1 equity share with a face value of Rs 10 into 10 equity shares with a face value of Rs 1 each. According to Trendline data, this is the first time that the company has announced a stock split.
The company will invest Rs 3 crore in the subsidiary.
The board of Diamond Power Infrastructure has also approved investment in the shares of the company's wholly owned subsidiary DICABS Nextgen Special Alloys Private Limited. This investment will be worth Rs 2,99,97,000 or about Rs 3 crore. For this, a rights issue of 29,99,700 shares of the subsidiary will be brought.
Money increased 14 times in a year
In November 2023, the price of one share of Diamond Power Infrastructure was Rs 104.18. Today, it has increased to Rs 1499.20. This means that its investors have got a bumper return of 1340 percent in a single year. During this time, the money of the investors has increased by more than 14 times.
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Know what is the company's business?
Diamond Power Company provides services for power transmission and distribution in India and manufactures diamond products. Its main focus is on high voltage cable wires. The company received a letter of intent of Rs 109 crore from power cable supplier Swastik Infra Private Limited last month. According to the exchange filing, the firm has to supply 11 kilovolt 240 square millimeter long XLPE AI 3 core cables for a project under the schemes of MGVCL. This contract will be executed by March 20, 2025.
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Note:
Before adopting any health tips, consult a doctor. Because no one knows better than your doctor what is appropriate or how appropriate for your body