Diamond Power Infrastructure jumped 7.25% to Rs 28.10 at 12:55 IST on BSE after the company said that meeting of the share/warrant allotment committee will be held on 28 April 2016, to allot 1.2 crore fully convertible warrants on preferential basis.
The announcement was made during market hours today, 26 April 2016.Meanwhile, the S&P BSE Sensex was up 96.72 points or 0.55% at 25,818.92.
Higher than normal volumes were witnessed on the counter. On BSE, so far 1.04 lakh shares were traded in the counter as against average daily average volume of 59,105 shares in the past one quarter. The stock hit a high of Rs 28.50 and a low of Rs 25.85 so far during the day. The stock had hit a 52-week high of Rs 55 on 6 May 2015. The stock had hit a 52-week low of Rs 22.05 on 29 March 2016. The stock had outperformed the market over the past one month till 25 April 2016, gaining 2.75% compared with 1.35% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, dropping 29.09% as against Sensex's 4.87% rise.
The small-cap company has equity capital of Rs 57 crore. Face value per share is Rs 10.
Diamond Power Infrastructure said that the warrants will be allotted at a price not less than Rs 55 per share to the promoter group companies.
On consolidated basis, Diamond Power Infrastructure reported net loss of Rs 50.49 crore in Q3 December 2015, higher than net loss of Rs 29.67 crore in Q3 December 2014. Net sales fell 20% to Rs 492.23 crore in Q3 December 2015 over Q3 December 2014.
More From This Section
Diamond Power Infrastructure is an integrated manufacturer of power transmission equipment and engineering, procurement and construction (EPC) player.
Powered by Capital Market - Live News