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Stock Market News: During the bullish phase of the stock market on Friday, Paramount Cables recorded a rise of 3.50 percent and were trading at the level of Rs 106.40 with a gain of Rs 3.60. The shares of Paramount Cables Limited, with a market cap of around Rs 3,200 crore, have a 52-week high of Rs 117 while a 52-week low of Rs 28. Paramount Cable shares have given a return of 14 per cent to investors in the last one month from the level of Rs 93.85.
Meanwhile, Paramount Cables has informed exchanges that its revenue from operations in the third quarter of the current financial year stood at Rs 277 crore, which was Rs 252.23 crore in the previous quarter and Rs 221.99 crore in the third quarter of the last financial year.
The profit before tax of the company in the third quarter of the current financial year stood at Rs 21.90 crore, which was Rs 19.4 crore in the previous quarter and Rs 14.31 crore in the third quarter of the last financial year.
Paramount Cables’s shares have given a bumper return of 1600 per cent to the investors from the low of Rs 6 on March 13, 2020. The shares of Paramount Cable had reached the level of Rs 1.80 on May 8, 2014, from where till now investors have got a return of 5888 percent.
Earlier, the company informed the exchanges that the Board of Directors of Paracables has allotted 2.03 crore shares to the non-promoter on preferential basis after receiving Rs 1.35 crore.
“Pursuant to the above allotment the issued, subscribed. and paid-up capital of the company has been increased from Rs. 56,26,19,780 /- (divided into 28,13,09.890 equity shares of Rs. 2/-each) to Rs. 60,33,69,740/-(divided into 30,16,84.870 equity shares of Rs. 2/- each),” the company said in an exchange filing.
Disclaimer: The article is for informational purposes only and not investment advice.
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