174% return in 1 year: Wires manufacturer Paramount Communications shares hit upper circuit

The surge is the counter comes despite a strong sell-off in the stock market today. However, the counter has gained after two days of consecutive falls.

Meanwhile, the share allotment committee has allotted 17 lakh equity shares of face value Rs 2 each to the warrant holders.

Shares of wires manufacturer Paramount Communications on Thursday surged 5 per cent to hit an upper circuit of Rs 110.07 on the BSE. The counter is Rs 6.63 away from its 52-week high of Rs 116.85. The 52-week low of the stock is Rs 28.00.

The surge is the counter comes despite a strong sell-off in the stock market today. However, the counter has gained after two days of consecutive falls.

Meanwhile, the share allotment committee has allotted 17 lakh equity shares of face value Rs 2 each to the warrant holders.

TRENDING NOW

"...has allotted 17,00,000 equity shares of face value Rs. 2/- each to the warrant holders belonging to non-promoters on
exercise of warrants which was issued to them at the price of Rs. 21.57/- per warrant," the company said in an exchange filing.

This multibagger small-cap stock has given a return of 174.83 in the last one year. In the last six months, the stock has risen to the tune of 160 per cent. The counter has given a return of around 697.03 per cent in the last 2 years.

Paramount Cables is mainly engaged in the electrical cables industry. The firm has said that it posted a rise of 54 per cent in consolidated net profit at Rs 19.49 crore in the quarter that ended on September 30, 2023. The company had posted a net profit of Rs 12.62 crore in the year-ago period.

TAGS:

Paramount Communications