Diamond Power Infrastructure Limited has emerged as a multibagger stock, delivering impressive returns over the past year. The company’s stock has surged by 1,265%, demonstrating remarkable growth. In 2024 alone, the stock has risen by 823%, reinforcing its status as a top performer.
For investors aiming to invest in stocks, such performance reflects the potential of identifying multibagger opportunities.
Stock performance overview
The journey of Diamond Power Infrastructure shares has included notable fluctuations. While the stock declined by 7% in November, it recorded a 14% gain in October and an 8% drop in September. Prior to these corrections, the stock maintained an 11-month rally from October 2023 to August 2024.
The stock achieved its 52-week high of ₹1,935.80 in October 2024 but is currently trading at ₹1,475.05, approximately 24% below its peak. Despite this correction, it has risen by an impressive 1,316% from its 52-week low of ₹104.18 recorded in November last year.
This consistent growth makes the stock an interesting consideration for those looking to invest in stocks.
Stock split announcement
Investor interest in Diamond Power Infrastructure has been reignited following the announcement of a stock split in the ratio of 1:10. The company confirmed the record date for shareholder eligibility as December 3, 2024.
According to an official statement, “Tuesday, December 3, 2024, has been fixed as the record date to ascertain the eligibility of shareholders for sub-division/split of equity shares having a face value of ₹10 each, fully paid-up, into 10 equity shares having a face value of Re 1 each fully paid-up.”
Under the T+1 settlement system, November 29, 2024, will be the last trading day for investors to purchase the stock and qualify for the stock split. Investors purchasing on or after the ex-date will not be eligible.
This will mark the company’s first-ever stock split, a move intended to improve liquidity and attract a broader investor base, which could interest those looking to invest in stocks.
About Diamond Power Infrastructure
Established in 1970 and headquartered in Ahmedabad, India, Diamond Power Infrastructure operates under the brand name Dicabs. The company is a significant player in the power transmission sector, offering a diverse range of products and services.
Its portfolio includes power cables, transmission towers, conductors, and turnkey solutions catering to both domestic and international markets. With an exceptional product offering, Diamond Power Infrastructure contributes significantly to India’s power infrastructure sector.
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