Financial Daily
from THE HINDU group of publications
Friday, November 30, 2001
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Financial Daily from THE HINDU group of publications Friday, November 30, 2001 |
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Diamond Cables: Big order, but....
Diamond Cables bagging the Rs 88-crore order from the Tamil Nadu State Electricity Board may provide a temporary boost in stock price.
The size of the order appears significant in relation to the companys revenues (Rs 102 crore in 1999-2000). However, this may not translate into any sustained improvement in valuation given that the company has an unimpressive track record of financial p
erformance. In any case, the stock already appears to have risen in the run-up to the announcement, rising from Rs 4 to Rs 7 over the past week. It continues to hover at Rs 7 levels. -- BL Research Bureau
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