Diamond Power Infrastructure, a small-cap stock with a market capitalisation of ₹8,500 crore, gained over 9.5% in Monday’s trade, April 20, to hit an intraday high of ₹164 apiece, extending its winning run to sixth session. The stock was last seen around these levels were in mid-September.
The rally has helped the stock recover all its recent losses and emerge as one of the top performers in April, surging 39% so far based on today’s high. Investor sentiment has been boosted after the company secured multiple order wins this month, improving its revenue outlook as well as valuation multiples.
Last week, the company stated that it had received a letter of intent from Adani Power Limited for the design, engineering, manufacturing, inspection and testing at the manufacturer’s works, packing and forwarding, transit insurance, transportation, and supply of various sizes of power and control cables. The order is worth ₹45 crore.
Earlier in April, the company secured a similar order from Adani Electricity Mumbai Limited worth ₹100.54 crore. It also bagged orders worth ₹43.26 crore and ₹19.57 crore from Adani Green Energy Limited, both related to the supply of cables.
In late March, the company won a significant order for the supply of 66 kV Extra High Voltage (EHV) cables from Gujarat Energy Transmission Company Limited, one of the largest single EHV cable orders received by the company.
These recent orders are expected to significantly enhance revenue visibility and profitability over the execution period. The company’s total outstanding order book, as of March 30, 2026, stands at over ₹3,500 crore, providing strong revenue visibility for the coming periods, as per the company’s recent regulatory filing.
Diamond Power Infrastructure long-term share price history
The company’s shares have been on a winning run since September 2023, rising from ₹2.22 apiece to the current trading price of ₹164 resulting in a massive gain of 7,287%.
In terms of the stock’s yearly performance, it closed 2023 with a 620% surge, followed by another massive 860% gain in the following year. In the previous year, it witnessed mild profit-booking as it fell 10.27%, and in the current year so far, it has jumped another 17%.
Impressively, the stock closed 12 consecutive months in the green between September 2023 and August 2024, resulting in a phenomenal rally of 6,089%. Looking at the cumulative performance, the stock has produced a 6839% return over the last three years.
Diamond Power Infrastructure is a leading manufacturer of power cables, including LV, MV, EHV cables, and conductors. Its products are used in power generation, electricity transmission and distribution, and various industrial applications.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
