L&T Infrastructure extends credit of Rs 50 crore to Diamond Power

L&T Diamond Power Infrastructure Limited (DPIL), formally known as Diamond Cables Limited, has informed that L&T Infrastructure Finance Company Ltd has agreed to extend a Credit of Rs 50 Crore to part finance Company's expansion project into Low Tensions Cable, High Tension Cables, Extra High Voltage Cables and Transmission Tower.

It should be recalled that the said project is already being financed by Axis Bank Ltd and Bank of India.

Vadodra-based, Diamond Power Infrastructure engages in the manufacture and distribution of power cables and conductors, and all aluminum alloy conductors in India.

The shares of the company today closed at Rs 172 on BSE, up 4% compared to previous close of Rs 165.