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Multibagger stock: The board of directors of Paramount Communications Ltd will meet for the board meeting on 18th December 2023. According to the reports, the agenda of this meeting is to discuss the proposal for fundraise. On Wednesday, the multibagger stock informed Indian stock market bourses about the same in its exchange filing.
Paramount Communications Ltd while talking about the fund raise proposal in upcoming board meeting said, “We wish to inform you that pursuant to Regulation 29(1)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the board of directors (the “Board”) of Paramount Communications Limited (the “Company”) is scheduled to be held on December 18, 2023 to inter alia consider proposal for raising of funds through of issuance of securities, in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013, as amended, subject to such regulatory/ statutory approvals as may be required.”
“The Board would also consider convening an extra-ordinary general meeting/ postal ballot process to seek approval of the shareholders in respect of the aforesaid proposal of fund raising, as required,” multibagger stock added.
The company’s share price saw a buying interest during morning deals and rose to touch new life-time high of ₹82.65 per share levels during Thursday deals after the outbreak of this stock market news. The stock also touched 5 per cent upper circuit while climbing to its new high. In fact, this small-cap stock has hit upper circuit for the sixth straight session.
This circuit to circuit stock has been hitting upper circuit since Thursday last week.
Paramount Communications shares are one of the multibagger stocks that Indian stock market has produced in 2023.
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