Diamond Power on the surge
By
Research Desk
about 10 years ago
Diamond Power Infrastructure is on the surge today morning. The stock which had closed yesterday at Rs.23.60, surged intra day to Rs.27.95, up 18.5%. Its 52-week high is at Rs.60.40.
The stock is in the limelight today following news that Kotak Mahindra Bank’s subsidiary, Kotak Mahindra (International), which is a foreign portfolio investor, has taken 6.8% stake in the company. This deal was valued at Rs.23.65/share, taking the total amount of the deal to Rs.19.60 crore.
This comes as a good deal for Diamond Power and surprising too because mid-March Kotak PE Fund had exited the very same company at a loss.