Multibagger small-cap Diamond Power Infrastructure saw its shares rise 5% in Friday’s intraday trade on December 05 to ₹150 apiece, reacting to the company’s latest significant order win.

The company on Thursday said it received a letter of intent from Adani Green Energy Limited for the supply of 33KV HV cables totaling 2,126 km and 3.3KV Solar MV cables totaling 3,539 km for the Khavda and Rajasthan projects, worth ₹748 crore. The order is to be executed within 12 months starting January 2026.

It also clarified that neither the promoter nor the promoter group companies have any interest in the entity that awarded the order and that the order does not fall under related-party transactions.

This is the second major order for the company in less than a month, after it received a ₹276 crore order from Adani Energy Solutions on November 24 for the supply of 7,668 km of AL-59 Zebra Conductor for the Khavda project.

Diamond Power Infrastructure is a leading manufacturer of power cables, including LV, MV, and EHV cables and conductors. Its products play a critical role in power generation, electricity transmission and distribution, and various industrial applications.

The company supplies cables to government distribution companies (discoms), private discoms, private EPC contractors, industrial clients, and export markets.

Diamond Power Infrastructure share price trend

The stock has witnessed profit booking since reaching its 1-year high of ₹185 per share in July, losing 23% of its value to date. Though the stock’s short-term trend looks weak, its long-term growth prospects remain intact.

Over the last two years, the shares have delivered a massive 1,220% return, and along the way, they touched a fresh all-time high of ₹193.60 apiece in October 2024. The company was acquired through the NCLT process by the GSEC-Monarch Group.

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