Paramount Cables to issue shares on a preferential basis | View the details here
The market capitalization of Paramount Cables stock is Rs 3,030 crore, while its 52-week high is Rs 117 and its 52-week low is Rs 28.
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 weakness, shares of Paramount Cables fell nearly 3% to trade at Rs 100.70. Paramount Cables stock has delivered multibagger returns to investors over the long term
The market capitalization of Paramount Cables stock stands at Rs 3030 crore, while its 52-week high is Rs 117 and its 52-week low is Rs 28. In the last one month, Paramount Cables stock has given investors a return of 8% while in the last six months, this stock has increased investors' capital from the level of Rs 49.40 to 105 percent.
In the last one year, shares of Paramount Cables have doubled investors' capital from a level of Rs 33.60. Paramount Cables shares have given investors a bumper return of 770%, compared to the 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 preferential basis to non-promoters at a subscription price of Rs 66.50 per equity share. The company has received Rs 8.31 crore out of this. The paid up capital of the company 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 an almost 60 year old company that produces power cables, telecom cables, control cables, household wires, special cables, etc. The company also produces cables for railways and major infrastructure projects. Paramount Cables also provides integrated range-related services for many projects.
From the low of ₹1.25 on August 23, 2013, Paramount Cables shares have multiplied investors' capital by over 80 times. In the last five years, Paramount Cables shares have given investors a return of 700% and the shares have touched the ₹100 level, compared to the level of ₹14 on August 24, 2018.
Disclaimer: The article is for information purposes only and not for investment advice.