Multibagger stock: Diamond Power Infrastructure shares soar over 1,265% in a year; stock split in focus | Stock Market News
Multibagger Stock: Diamond Power Infrastructure has delivered exceptional returns to investors, emerging as a multibagger stock. Over the past year, the stock has surged 1,265 per cent while in 2024 alone, it is up 823 per cent, demonstrating remarkable growth.
However, this multibagger stock‘s journey has not been without fluctuations. It declined 7 per cent in November after recording a 14 per cent gain in October and an 8 per cent drop in September. Before this correction phase, the stock enjoyed a sustained rally for 11 months between October 2023 and August 2024.
In October 2024, the stock reached its 52-week high of ₹1,935.80. Currently, it is trading at ₹1,475.05, approximately 24 per cent below its peak. Despite this correction, the stock remains a standout performer, having surged 1,316 per cent from its 52-week low of ₹104.18, recorded in November last year.
Stock Split Announcement Boosts Investor Interest
Investor interest in Diamond Power Infrastructure has been reignited following the company’s announcement of a stock split in the ratio of 1:10. The record date for determining shareholder eligibility has been set for December 3, 2024.
In an official exchange filing, the company stated, “Tuesday, 3rd December 2024 has been fixed as the Record Date to ascertain the eligibility of shareholders for the purpose of sub-division/split of Equity Shares having face value of ₹10 each, fully paid-up, into 10 Equity Shares having face value of Re 1 each fully paid-up.”
This means that November 29, 2024, is the last trading day for investors to purchase the stock and qualify for the stock split. Under the T+1 settlement system, shareholders who acquire the stock today will be eligible for the split, while those buying on the ex-date will not be entitled to it. This will mark the company’s first-ever stock split, a strategic move designed to improve liquidity and expand its investor base.
About Diamond Power Infrastructure
Established in 1970 and headquartered in Ahmedabad, India, Diamond Power Infrastructure Limited is a key player in the power transmission sector. The company operates under the brand name Dicabs and offers a diverse range of products and services catering to both domestic and international markets. Its product portfolio includes power cables, transmission towers and conductors, and turnkey solutions.
The company’s robust product offerings and strategic presence in the power infrastructure space have positioned it as a significant contributor to India’s power transmission industry. With the upcoming stock split, Diamond Power Infrastructure is expected to see enhanced trading activity and greater investor participation, potentially driving further growth in the near term.
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