Paramount Cable Shares Rise 5 Percent Amid Market Crash | Check Details Here

The 30-share BSE Sensex plunged 1,371.23 points to 71,757.54 after a weak beginning. The Nifty tanked 395.35 points to 21,636.95.

Written by: Victor Dasgupta Edited by: Victor Dasgupta

Published: January 17, 2024, 4:10 PM IST

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Share Market News: Even as benchmark equity indices Sensex and Nifty plunged in early trade on Wednesday, shares of Paramount Cables surged around 5 percent to hit the upper circuit of Rs 96.83. The counter had closed at Rs 92.22 in the last trading session. In the last month, the shares of Paramount Cables have given a return of 17 percent to the investors.

The shares of Paramount Cables, which has given 174 percent return to investors in the last 6 months, were at the level of Rs 35 on July 17. From the low of Rs 11.75 on January 18, 2019, the shares of Paramount Cables have given a bumper return of 718 percent to the investors.

Meanwhile, the 30-share BSE Sensex plunged 1,371.23 points to 71,757.54 after a weak beginning. The Nifty tanked 395.35 points to 21,636.95. Among the Sensex firms, HDFC Bank fell nearly 6 percent after its December quarter earnings.

HDFC Bank on Tuesday reported a 2.65 per cent rise in consolidated net profit of Rs 17,258 crore for the October-December period against Rs 16,811 crore in the preceding September quarter.

Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance were among the other major laggards. Tata Consultancy Services, Reliance Industries, UltraTech Cement, Infosys, HCL Technologies, and Tech Mahindra were among the gainers.

Disclaimer: The article is for informational purposes only and not investment advice.