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Diamond Power Infrastructure shares hit the 10% upper circuit after the company secured a ₹435.71 crore order to supply power cables.
The company manufactures power cables and conductors used to transmit electricity, from low-voltage to extra-high-voltage applications.
It supplies power utilities, EPC contractors, renewable energy developers, and industrial customers.
What the order includes: the contract has been awarded by Larsen & Toubro, Sterling and Wilson, and Blue Star for five data centre projects with a combined capacity of 310 MW in Hyderabad, Telangana.
Under the deal, Diamond Power will supply 21.35 lakh metres of power cables, including:
- 1.89 lakh metres of high-tension (HT) cables and
- 19.46 lakh metres of low-tension (LT) cables.
Deliveries will begin in August 2026, be carried out in phases, and are expected to be completed by March 2027.
Why it matters: the country's installed data centre capacity stood at around 1,700 MW in 2025 and is expected to grow by about 30% in 2026. Industry estimates suggest capacity could reach 4-5 GW by 2030, with AI-driven demand potentially pushing it to 8-9 GW.
This rapid expansion is creating significant opportunities for cable manufacturers, with India's data centre projects expected to generate a ₹4,600 crore wires and cables market between FY25 and FY30.
The opportunity extends beyond data centres. India's overall wires and cables industry is projected to grow from ₹90,000 crore in FY25 to ₹1.58 lakh crore in FY30, making it one of the country's fastest-growing industrial segments.
