Tuesday, December 18, 2007

Diamond Cables to bag order for power transformers

Transmission products maker Diamond Cables is expecting to receive a large order for the supply of 956 power transformers. The order is for the export to one of the leading power utilities in Africa.

Diamond Cables plans to raise long term funds of up to Rs 2.5 billion by way of FCCB / GDRs / ADRs / qualified institutional placement (QIP).

Shares of the company gained Rs 11.05, or 2.52%, to trade at Rs 448.8. The total volume of shares traded was 9,102 at the BSE. (12.11 p.m, Tuesday)

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