Shares of Diamond Power Infrastructure Ltd (DPIL), which is into manufacturing of cables and conductors, hit fresh 52-week high on Wednesday, July 8, 2026, even as benchmark indices fell sharply by over 2 per cent during the fag-end of the trade amid reports that the US President Donald Trump said the interim agreement with Iran is over, leading to a sharp rally in crude oil prices. The 30-share BSE Sensex tanked 1,722.99 points, or 2.20 per cent, to 76,457.73 in intraday trade. The 50-share NSE Nifty tumbled 530.05 points, or 2.17 per cent, to 23,868.65. Despite this, the stock was trading in the green at Rs 232.85 with a gain of Rs 9.55 or 4.24 per cent, and the market cap of the company stood at Rs 12,373.28 crore.
Hits fresh 52-week high
The stock started the trading session in the red and opened at Rs 224.25 against the previous close of Rs 225.30 on the BSE. However, the scrip gained amid a spurt in trading volume by more than 2.25 times and hit a high of Rs 240, a gain of 6.52 per cent from the last closing price.
What’s behind today’s rally
The counter has been gaining for the last three days and has risen 17.45 per cent in the period. It has outperformed the sector by 5.68 per cent and is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The fresh rally comes as brokerage InCred Equities has initiated coverage on the stock with an ‘ADD’ rating and a target price of Rs 300.
“In MV and EHV (which is a seller’s market currently), DIACAB is better placed than other large players in terms of capacity. We see HT/MV cable revenue growing from Rs 7.5 billion in FY26 to Rs 36 billion by FY29F, and EHV (220kV+) scaling from Rs 710 million to Rs 4.3 billion as utilisation improves. With peers running full, DIACABS’s spare capacity lets it quote faster lead times,” InCred Equities said.
Share price history
According to BSE Analytics, the stock has given a strong return of 1,21,794.74 per cent in three years. On a year-to-date (YTD) basis, it has gained 67.89 per cent against the correction of 10.20 per cent in the benchmark index.
ALSO READ | How long does Rs 10k monthly SIP take to make you crorepati and what it teaches about compounding
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
