Diamond Power Infra spurts on strong Q2 results

Diamond Power Infrastructure surged 10.06% to Rs 127.40 at 14:00 IST on BSE after the company's consolidated net profit rose 29.23% to Rs 40.32 crore on 34.51% rise in total income to Rs 895.58 crore in Q2 September 2014 over Q2 September 2013.

The company announced Q2 results market hours on Friday, 10 October 2014.

Meanwhile, the BSE Sensex was down 28.85 points, or 0.11%, to 26,368.58.

On BSE, so far 3.17 lakh shares were traded in the counter, compared with an average volume of 96,256 shares in the past one quarter.

The stock hit a high of Rs 133 and a low of Rs 122.05 so far during the day. The stock hit a 52-week high of Rs 139.20 on 16 September 2014. The stock hit a 52-week low of Rs 40 on 5 March 2014.

The stock had underperformed the market over the past one month till 10 October 2014, falling 12.18% compared with Sensex's 2.81% decline. However, the scrip had outperformed the market in past one quarter, rising 5.32% as against Sensex's 3.64% rise.

The small-cap company has an equity capital of Rs 54 crore. Face value per share is Rs 10.

The company's consolidated net profit rose 17.77% to Rs 76.79 crore on 36.8% rise in total income to Rs 1700 crore in the first half ended 30 September 2014 (H1 FY 2014) over the first half ended 30 September 2013 (H1 FY 2013). The first half saw substantial increase in its power cables and tower business.

Diamond Power Infrastructure is a integrated manufacturer of power transmission equipment and engineering, procurement and construction (EPC) player.

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