Heavy buying and Rs 4,951.6 million order book: Back-to-back upper circuit in this multibagger penny stock; gains over 350 per cent!
Shares of the company gained more than 100 per cent in the last one year.
Shares of Paramount Communications Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit. In the last six months, the stock has gained has given negative returns of 10 per cent.
The company also posted strong results in Q4FY24. The revenue of the company for Q4FY24 stood at Rs 323.37 crore which increased by 60.02 per cent YoY. The operating profit of the company stood at Rs 29.88 crore, while the PAT of the company stood at Rs 29.49 crore which increased by 113.71 per cent from Q4FY23. The company has an order book of Rs 4,951.6 million.
Shares of Paramount Communications Limited have also delivered multibagger returns to their shareholders in the last three years. During this period, the company’s share price jumped from Rs 17.40 on July 09, 2021, to Rs 82.78 on July 06, 2024, an increase of more than 350 per cent in the three-year holding period.
Paramount Communications Limited is engaged in the manufacturing business of Wires and Cables comprising of power cables, telecom cables, railway cables and specialised cables. The company offers an extensive product portfolio that encompasses a diverse range of wiring and cabling solutions. Its product portfolio comprises high-quality products and solutions, including power cables, railways cables, telecom cables, and domestic wires and cables as well as specialized turnkey services for telecom, power, railway, and submarine cable projects. The manufacturing facilities of the company are situated at Khushkhera, Rajasthan and Dharuhera, Haryana.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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