Diamond Power hits the roof after fixing record date for bonus issue

Diamond Power Infrastructure was locked at 20% upper circuit at Rs 46.80 at 14:20 IST on BSE after the company fixed 27 August 2013 as the record date for 1:3 bonus issue.

The announcement was made during trading hours today, 23 August 2013.

Meanwhile, the BSE Sensex was up 104.01 points, or 0.57%, to 18,416.95.

On BSE, 31,000 shares were traded in the counter compared with average volume of 20,231 shares in the past one quarter.

The stock hit a high of Rs 46.80 and a low of Rs 39.15 so far during the day. The stock hit a 52-week low of Rs 38.65 on Thursday, 22 August 2013. The stock hit a 52-week high of Rs 129.95 on 4 October 2012.

The stock had underperformed the market over the past one month till 22 August 2013, sliding 36.01% compared with the Sensex's 9.16% decline. The scrip had also underperformed the market in past one quarter, falling 55.98% as against Sensex's 8.72% fall.

The small-cap company has an equity capital of Rs 37.21 crore. Face value per share is Rs 10.

Net profit of Diamond Power Infrastructure rose 54.78% to Rs 34.02 crore on 38.79% rise 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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