[Featured Stock] 'Daewang Whale' in Full Swing(?)... Iljin Diamond Rises for Second Day on Low-Price Buying Influx

On the 1st, Iljin Diamond (stock name Iljin Diamond) showed a rising trend for the second consecutive day in the stock market as low-price buying demand flowed in.

Iljin Diamond PDC

As of 10:45 AM on the same day, Iljin Diamond was trading at 12,700 KRW, up 4.01% from the previous day's closing price. The stock price continued its upward trend for the second day following a slight increase the day before.

Iljin Diamond's stock price rose to 21,000 KRW in early June on expectations that it would supply drilling diamonds for the 'Daewanggorae Project,' an offshore oil exploration and drilling project in the East Sea. Since then, the East Sea oil project did not materialize, leading to about five months of adjustment.

In August, the stock price seemed to rebound after winning the physical verification contract for the 'Daewanggorae' drilling, but the long-term adjustment trend continued. Eventually, on the 28th of last month, the stock price fell below 12,000 KRW.

Recently, as the East Sea oil drilling project has begun to take shape again, expectations for improved performance are growing.

Korea National Oil Corporation (KNOC) selected Standard & Poor's (S&P) Global as the final investment advisor for the deep-sea gas field in Yeongil Bay, East Sea, and has officially started the development of the deep-sea gas field in the East Sea.