Diamond Cables Acquires land for Expansion of HT/LT Cables Project

Diamond Cables Ltd has announce the acquisition of 5,00,000 Sqft of land next to its existing facility at Village Vadadala Ta Savli Dist Vadodara.

The above said land has been acquired as a part of the Companies Expansion in Capacity to Manufacturer HT Cables Upto 132KV and expansion in its existing LT Cables Facility.

The Company has placed an order for Purchase for CCV Line from Scholz Germany; the Delivery of the same is scheduled for November 2007. The Company expects its CCV Line to be commissioned by January 2008.

Companies Expanded LT Cables Facility Shall is in operation by September 30, 2007.

The stock was trading at Rs.160.05, up by Rs.3.75 or 2.40%. The stock hit an intraday high of Rs.161.95 and low of Rs.156.25. The total traded quantity was 7653 compared to 2 week average of 25456.

Source : Equity Bulls

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