Shares of Paramount Communications Jumps After Financial Results; Check Latest Announcement Here

Paramount Communications has informed the stock exchange that it has received approval for trading 5 lakh equity shares with a face value of Rs. 2. The company had issued these shares to non-promoters at a price of Rs 19.57 on a preferential basis on conversion of warrants. The company has said that it has received approval from the stock exchange in this regard and now these shares can be traded. These shares can be traded from Monday, June 3.

On Friday, the shares of Paramount Communications Limited registered a slight rise and the shares of the small cap company with a market cap of Rs 2380 crore closed at Rs 78.50.

The 52-week high of Paramount Communications shares is Rs 117 while the 52-week low is Rs 34. Paramount Communications Limited shares, which have given a bumper return of 106 percent to investors in the last 1 year, have given a bumper return of 533 percent to investors from the level of Rs 11.45 in the last 5 years.

Paramount Communications Limited's customers include many big PSUs, due to which traders and investors keep a close eye on the shares of this company.

Recently, Paramount Communications has informed the stock market that the company has decided to allot 2.02 crore shares to non-promoters on preferential basis. The company has received approval in this regard from the stock exchange. Paramount Communications has informed the stock market that the company is going to issue 2.0274 crore equity shares with face value of Rs 2 on a preferential basis at a premium of Rs 64.50 to non-promoters category investors, which will help the company raise a huge amount.

Earlier this year, the company received a long-term rating of [ICRA] BBB- (Stable) from ICRA, a credit rating agency, for their bank facilities of Rs 150 crore. This rating indicates moderate credit quality with a stable outlook. The rating is based on the specific terms and conditions of the bank facilities and may change if those terms change. It's important to note that this rating is an opinion and shouldn't be considered financial advice.

Paramount Communications Limited is a manufacturer of wires and cables including power cables, telecom cables, railway cables and special cables. It has a large number of clients including Larsen & Toubro, Steel Authority of India (SAIL), BSES, Bharat Heavy Electrical Limited, Power Grid Corporation, BSNL, Tata Steel, Alcatel Lucent Enterprises, ISRO, Indian Railways, Indian Oil, NTPC.