Diamond Power gains after bagging export orders

Diamond Power Infrastructure rose 1.20% to Rs 42 at 12:20 IST on BSE after the company said it received orders aggregating to $30.48 million for exporting cables and conductors.

The announcement was made at the fag end of the trading session on Monday, 2 September 2013. Shares of Diamond Power Infrastructure rose 1.34% to Rs 41.50 on that day.

Meanwhile, the BSE Sensex was down 243.97 points, or 1.29%, to 18,642.16.

On BSE, 14,000 shares were traded in the counter compared with average volume of 22,374 shares in the past one quarter.

The stock hit a high of Rs 43.50 and a low of Rs 41.15 so far during the day. The stock hit a 52-week high of Rs 97.46 on 4 October 2012. The stock hit a 52-week low of Rs 28.99 on 22 August 2013.

The stock had outperformed the market over the past one month till 2 September 2013, rising 33.48% compared with the Sensex's 1.45% decline. The scrip had, however, underperformed the market in past one quarter, falling 20.44% as against Sensex's 4.42% fall.

The small-cap company has an equity capital of Rs 49.61 crore. Face value per share is Rs 10.

Diamond Power Infrastructure said it bagged orders aggregating to $30.48 million for exporting cables and conductors. From the total order size, orders for exporting cables is worth $14.70 million and orders for exporting conductors is worth $15.78 million. These orders are to be executed over nine months.

Diamond Power Infrastructure's net profit rose 54.8% to Rs 34.02 crore on 38.8% growth in net sales to Rs 576.52 crore in Q1 June 2013 over Q1 June 2012.

Diamond Power Infrastructure manufactures power transmission equipment and provides turnkey services.

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