Here's why Diamond Power Infra shares hit 5% upper circuit on Monday
The northward movement in Diamond Power Infrastructure's share price came on the back of news that the company has received a letter of intent worth ₹214.65 crore from Adani Green Energy
SI Reporter New Delhi Shares of electrical equipment maker and other integrated solutions provider company, Diamond Power Infrastructure, climbed 5 per cent to hit the upper circuit of ₹98.96 per share on the National Stock Exchange (NSE) during intra-day trading on Monday, March 24, 2025. A total of nearly 0.26 million equity shares of the company, estimated to be worth around ₹2.44 crore, exchanged hands on the NSE and BSE. Trading of the stock has been halted for the day on the exchanges.
"Our company has received a letter of intent from
Adani Green Energy Limited worth ₹214,65,28,200/- for the supply of conductors for the Khavda Power Project, Gujarat," Diamond Power Infrastructure said in an exchange filing on the NSE.
Primarily established as a conductor manufacturer in 1970, Diamond Power Infrastructure is an integrated solutions provider in the Power T&D space in India. The company was acquired through the NCLT process by GSEC-Monarch Group. DPIL’s business operations span across India with a large manufacturing plant at Vadodara measuring. The company provides turnkey services in T&D, manufacturing power cables up to 550KV, power and distribution transformers up to 220KV, transmission and distribution conductors up to 765KV, and transmission towers.
The company has a market capitalisation of ₹5,214.91 crore on the NSE.
Diamond Power Infrastructure shares have yielded a return of nearly 93 per cent in the last year. However, for the year-to-date, the company's shares have posted a decline of nearly 36 percent.
The company's shares reached their 52-week high of ₹190 per share on the NSE on October 18, 2024, and fell to their 52-week low of ₹49.20 apiece on March 21, 2024.
 "Here's why Diamond Power Infra shares hit 5% upper circuit on Monday")
