Diamond Power on the surge
By
Research Desk
about 9 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.