Mumbai, July 15 -- Diamond Power Infrastructure hit the ten per cent upper circuit at Rs 218.40 after it announced a supply order worth Rs 4,357.1 million (mn) for high tension and low tension power cables.

The order was awarded by Larsen & Toubro, Sterling and Wilson and Blue Star for the 310 megawatt (MW) HYD22 to HYD26 data centre projects in Hyderabad. Under the contract the company will supply approximately two point one three five mn metres including zero point one eight nine mn metres of HT cables and one point nine four six mn metres of LT cables, with total quantity subject to a tolerance of two per cent.

Deliveries will be made on a Delivered at Place basis in Hyderabad and the order value of Rs 4,357.1 million (mn) is inclusive of packing, forwarding and transit insurance charges. Pricing is subject to variation under the IEEMA price variation formula with April 2026 indices as the base. The company indicated deliveries are scheduled to commence in the first week of August 2026 and will be executed in phases.

The firm said the entire order is expected to be completed by March 2027 and clarified that the contract does not constitute a related party transaction and that neither its promoters nor promoter group entities have any interest in the deal. Diamond Power Infrastructure manufactures power cables and conductors across a range from one point one kilovolt to four hundred kilovolt and serves utilities, EPC contractors, renewable energy developers and industrial customers. The announcement attracted investor attention and the stock movement reflected market reaction.

On the financial front the company reported a 691.25 per cent year-on-year rise in consolidated net profit to Rs 606.1 mn for the quarter ended March 2026, compared with Rs 76.6 mn a year earlier. Revenue from operations more than doubled, rising 108.46 per cent to Rs 6,958.7 mn from Rs 3,338.1 mn in the year ago period. Information was provided through the release and no Business Standard journalist was involved in its preparation.

Published by HT Digital Content Services with permission from Construction World.