Small Cap Cables Stock Hits 4th Upper Circuit, Rallies 1148% In Last 3-Yrs

Paramount Communications Ltd shares continue to hit upper circuits for 4th consecutive day today. Last trading price of the Paramount Communications share on BSE is Rs 87.78 apiece with intraday rally of 5.00%. Paramount Communications shares delivered attractive returns to investors in last few months with return of 188% in last 1-year only. Earlier, the company declared to issue shares to select investors on a preferential basis. Paramount Communications also issued a BSE filing regarding the same on December 20, 2023 where it also detailed about its upcoming EGM (Extra Ordinary General Meeting). Check details below:

According to its BSE filing dated December 18, 2023, "The company board met on Monday, December 18 to consider and approve up to 2,25,24,980 equity shares of the company of face value Rs 2 each at a price of Rs 66.50 apiece the given investors/entities who does not belong to the promoter and promoter Group of the company."Paramount Communications will reportedly raise approximately Rs 150 crore.

"The company board also approved to increase the authorized share capital of the company from Rs 70,00,00,000 divided into 30,00,00,000 equity shares of Rs 2 each and 10,00,000 redeemable preference shares of Rs 100 each to Rs 80,00,00,000 divided into 35,00,00,000 equity shares of Rs 2 and 10,00,000 redeemable preference shares of Rs 100 each," added its BSE filing.

Paramount Communications Stock Performance & Return: Current market price of Paramount Communications share is Rs 87.78 apiece. Its 52-week high price is Rs 91.08 per share and 52-week low price is Rs 26.15 per share, respectively. The company has a market capitalisation of Rs 2150.04 crore. Paramount Communications shares gained 133% in last 6-months, soared 188% in last 1-year, rallied 611% in last 2-years, and offered return of 1148% in last 3-years. In last 5-years, Paramount Communications shares surged 566%.

Paramount Communications About: Paramount Communications Ltd, part of the Paramount Cables Group, is one of India's leading wire & cable manufacturing company. With over six decades of operations, the group has built up a portfolio spanning a comprehensive range including HV & LV Power Cables, Optical Fiber Cables & other Telecom Cables, Railway Cables, Specialised Cables, Instrumentation & Data Cables, Fire Survival Cables etc. Paramount Cables has a prestigious clientele that includes government, institutional and major private sector organizations, both national and international, in the Power, Telecom, Railways, I.T. and Communication, Construction, Defence and Space Research sectors amongst others, according to its official website.

Disclaimer:

The stock highlights the rally in shares on fundraise plan and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.