Penny Stock Under Rs 100: Cables & Conductors Company Secures Orders Worth Over Rs 116 Crore
In the last 12 months, the stock has jumped over 4 per cent while in the last 3 months, the stock is up by 14.71 per cent.
Diamond Power Infrastructure Limited (DICABS) announced today the receipt of multiple Letters of Intent (LoI) for various projects, aggregating to a total value of Rs 1,16,71,20,812.42. This follows a previous press release on June 13, 2025, detailing the initial receipt of these orders.
The company will be supplying cables for Battery Energy Storage Systems, Smart Metering, and Highway projects, as per their respective specifications. These orders are expected to be executed by March 31, 2026.
The orders have been awarded by domestic entities, with details as follows:
- An order valued at Rs 60,26,22,000/- from Adani Green Energy Limited.
- A contract worth Rs 20,68,97,500/- from Brilltech Engineers Private Limited.
- An order amounting to Rs 15,81,42,268.42/- from Tulsi Electricals and Switchgears.
- A project totalling Rs 19,94,59,044/- from Capital Electech Private Limited.
Diamond Power Infrastructure Limited has confirmed that there is no interest from its promoters, promoter group, or group companies in the entities that awarded these contracts, ensuring that these transactions are not classified as related party transactions. The nature of these orders is based on a "Kms rate basis with PV Formulae". The announcement was signed by Diksha Sharma, Company Secretary, from the Corporate Office in Ahmedabad.
Diamond Power Infrastructure Limited was formerly a prominent manufacturer of power transmission and distribution equipment. The company's business historically encompassed the production of cables, conductors, transformers, and other electrical equipment essential for power infrastructure projects. However, the company has faced significant financial challenges, leading to its delisting and ongoing insolvency proceedings.
In the last 12 months, the stock has jumped over 4 per cent while in the last 3 months, the stock is up by 14.71 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.