Scripscan:Diamond Cables Ltd
cmp:160
Traded in:Nse-bse
Story::Diamond Cables Ltd has achieved Financial Closure for its Expansion Projects aggregating Rs 260 crores with a Term Loan of Rs 130 crores from AXIS Bank Ltd., the remaining Rs 130 crores are being funded through a Mixture of Promoter Equity and Internal Accruals.Diamond Power is setting up a Power Equipment Park which would have manufacturing facilities for 50,500 Mt of Conductors, 48000 Mt Transmission Tower Plant, 25,000 kms of LT Cables, 3200 Kms of HT Cables and 3000 kms Cables of EHV Cables. The Plant will employ more then 4000 Persons and all the facilities will go on stream in three different stages before June 2009.The Power Equipment Park will also have space for setting up 50 ancillary units for Power Equipment Manufacturers.Meanwhile Diamond Cables High Voltage Power Cables Manufacturing facility at Vil: Vadadala, Tal: Savli, Dist: Vadodara with a capacity to manufacture 2800 kms has gone commercial.On another front, Diamond Cables' wholly owned subsidiary (Diamond Power) has expanded the manufacturing facility for Distribution Transformers to stand at 5000 MVA or about 2500 Distribution Transformers per month.After falling sizeably from the January 2008 peak of Rs 599, the stock is an exciting prospect and a probable multi-bagger from current levels.
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