Diamond Power Infrastructure Receives Rs 900 Crore Order From Adani Energy Solutions
The work does not fall under the related-party transactions, it says.
Diamond Power Infrastructure Ltd. received a letter of intent worth Rs 899.6 crore from Adani Energy Solutions Ltd. on Tuesday for the supply of AL-59 conductors—new generation aluminium alloy conductors.
The company has to complete the order by next April. The work does not fall under related-party transactions and none of the promoters or promoters' groups have any interest in the entity, according to an exchange filing.
On Monday, the company had bagged a contract worth approximately Rs 409 crore for the supply of low- and medium-voltage cables from Adani Green Energy.
Diamond Power Infrastructure is a cable and conductor manufacturer company in India. The outstanding order-book position of the company stands at Rs 1,505 crore as of date.
Shares of Diamond Power Infrastructure closed 2% higher at Rs 1,263.55 apiece on the BSE, compared to a 0.49% advance in the benchmark Sensex.
Disclaimer: New Delhi Television is a subsidiary of AMG Media Networks Ltd., an Adani Group company.
