India's Diamond Power jumps after early exit from insolvency process
BUZZ-India's Diamond Power jumps after early exit from insolvency process ** Shares of India's Diamond Power Infrastructure DIAC.NS rise 5% to 387.50 rupees
** Electrical components and equipments co on Friday said it had exited a National Company Law Tribunal insolvency resolution process ahead of a deadline of September 2027
** Co redeems 19 billion rupees ($198.05 million) of bonds owned to former lenders and it prepaid 5.01 billion rupees
** Exit makes co eligible to obtain credit ratings in ordinary course, potentially opening access to bank credit and debt capital markets
** Separately, co receives order worth 1.79 billion rupees on Tuesday for supply of medium voltage and low voltage underground power cables
** Stock surges more than two-fold YTD
($1 = 95.9350 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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