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Share Market News: The BSE Sensex was trading 556 points lower at 71,595 at 11:40 AM on Thursday, while the Nifty was down 162 points at 17,677. Amid the stock market’s weakness, Paramount Cables shares were down nearly 3% and were trading at Rs 100.70. Paramount Cables shares have given investors multibagger returns in the long term
The market cap of Paramount Cables shares is Rs 3030 crore, while its 52-week high is Rs 117 and 52-week low is Rs 28. In the last 1 month, Paramount Cables shares have given investors a return of 8%, while in the last 6 months, this stock has increased the capital of investors from the level of Rs 49.40 to 105 percent.
In the past 1 year, Paramount Cables shares have doubled investors’ capital from a level of Rs 33.60. Paramount Cables shares have given investors a bumper return of 770% from a low of Rs 11 on February 8, 2019.
Paramount Cables has informed the stock market that its board of directors has approved the issue of 12.50 lakh equity shares on a preferential basis to non-promoters at a subscription price of Rs 66.50 per equity share. The company has received Rs 8.31 crore from this. The company’s paid-up capital has increased to Rs 60.58 crore after this allotment. Paramount Cables has allotted 12.50 lakh shares to seven people from the non-promoter group.
Paramount Cables is a nearly 60-year-old company that manufactures power cables, telecom cables, control cables, domestic wires, special cables, etc. The company also manufactures cables for railways and large infrastructure projects. Paramount Cables also provides integrated range related services for many projects.
From a low of ₹1.25 on August 23, 2013, Paramount Cables shares have multiplied investor capital by more than 80 times. In the last 5 years, Paramount Cables shares have given investors a return of 700% and its shares have reached the level of ₹100 from the level of ₹14 on August 24, 2018.
Disclaimer: The article is for informational purposes only and not investment advice.
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