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Electric equipment stock hits 5% upper circuit after receiving order worth ₹215 Cr from Adani Green Energy

Prominent electric equipment company secured a ₹214.65 crore order from Adani Green Energy for the Khavda Power Project, enhancing its market position and driving investor confidence with strong renewable energy sector growth.
Electric equipment stock hits 5% upper circuit after receiving order worth ₹215 Cr from Adani Green Energy
Electric equipment stock surges 5% after securing ₹215 Cr order from Adani Green Energy!

Introduction:

Leading electric equipment company has secured a ₹214.65 crore order from Adani Green Energy Limited to supply conductors for the Khavda Power Project in Gujarat, strengthening its presence in the renewable energy sector and boosting investor confidence.

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Also Read: Stock under ₹100 hits 5% upper circuit after receiving order worth ₹33 Cr from Bharat Petroleum

Share price movement of Diamond Power:

On March 24, 2025, Diamond Power Infrastructure Ltd opened at ₹93.41, down from its previous close of ₹94.38. The stock surged to a high of ₹99.09 (4.99%) and hit a low of ₹92.50. By 3:14 PM, it traded at ₹99.09, locked in a 5% upper circuit, with a market cap of ₹5,221.76 crore.

Diamond Power Secures ₹214 Cr Order:

Diamond Power Infrastructure Limited has secured a significant order worth ₹214.65 crore from Adani Green Energy Limited. The order involves supplying conductors for the Khavda Power Project in Gujarat, marking a major boost for the company’s growth and market position.

The contract, awarded on a kilometer rate basis with a price variation formula, is set for completion by January 2026. This domestic order highlights Diamond Power’s strong presence in the electrical equipment sector, reinforcing its role in India’s expanding renewable energy infrastructure.

Notably, the company confirmed that no promoter or related party interest is involved in this transaction. The announcement led to a surge in investor confidence, with the stock hitting a 5% upper circuit, reflecting positive sentiment toward this strategic business win.

Stock performance of Diamond Power for Period of 1 week, 6 months, and 1 year:

Diamond Power Infrastructure Ltd delivered a 5.38% gain over the past week. Despite a 31.1% drop in six months, the stock surged 87.8% over the past year, reflecting strong long-term growth.

Also Read: Infra stock jumps 14% after receiving order worth ₹579 Cr from BHEL

Shareholding pattern of Diamond Power:

ParticularsDec 2024Sep 2024Jun 2024
Promoter90.00%90.60%90.60%
FII0.00%0.00%0.10%
DII0.00%0.00%0.00%
Public10.00%9.40%9.30%

About Diamond Power:

Diamond Power Infrastructure Ltd (NSE: DIACABS), one of India’s oldest cable and conductor manufacturers, operates a 110-acre Vadodara facility. Acquired by GSEC-Monarch, it is revamping operations and serves domestic and global markets with innovative, energy-efficient power transmission products.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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