Diamond Power Infrastructure Limited (DICABS) shares hit the 5% upper circuit on Monday, reaching Rs 98.96, after the company announced a significant order win from Adani Green Energy Limited. The Vadodara-based company has received a Letter of Intent (LoI) worth Rs 214.65 crore for the supply of conductors and cables to Adani Green’s renewable energy project in Khavda, Gujarat.
According to the regulatory filing dated March 24, 2025, DICABS will supply over 1,300 kilometers of both 33kV high-tension (HT) and 3.3kV low-tension (LT) cables. The project is scheduled for completion by January 2026. The order is placed on a “Kms rate basis” with a price variation clause and has been classified as a domestic contract.
This marks the second major order received by the company from Adani Green and highlights DICABS’ strategic role in India’s renewable energy infrastructure expansion. The company, now under the ownership of the GSEC-Monarch Group following NCLT resolution proceedings, is in the process of recommissioning its 110-acre Vadodara manufacturing unit.
With an installed capacity of 9,600 km per annum and clientele across over 12 countries, Diamond Power Infrastructure is poised to strengthen its market presence through this fresh order, further solidifying its position in the clean energy supply chain.
