Rs 361 crore order book & FIIs increase stake: Watch out for this multibagger stock trading at Rs 110 that locked in the upper circuit on 25th January

Rs 361 crore order book & FIIs increase stake: Watch out for this multibagger stock trading at Rs 110 that locked in the upper circuit on 25th January

Kiran Shroff
/ Categories: Trending, Multibaggers

From Rs 1.61 per share to Rs 110 per share, the stock gave multibagger returns of over 6,700 per cent in a decade.

Today, shares of Paramount Communications Ltd were locked in 5 per cent to Rs 110 per share from its previous closing of Rs 104.85. The stock’s 52-week high is Rs 116.85 and its 52-week low is Rs 27.90.

Paramount Communications Ltd manufactures wires and cables comprising of power cables, telecom cables, railway cables and specialised cables. The company have handsome numbers of clients, a few of them are Larsen & Toubro, Steel Authority of India (SAIL), BSES, Bharat Heavy Electrical Ltd, Power Grid Corporation, BSNL, Tata Steel, Alcatel Lucent Enterprises, ISRO, Indian Railways, Indian Oil, NTPC, etc.  

Paramount Communications Ltd. is gearing up for growth by expanding its capital base through two avenues: an authorized share capital increase of Rs 10 crore via new equity issuance, and a preferential allotment of shares to non-promoters at Rs 66.50 each. Additionally, the company has allotted over 17 lakh equity shares to non-promoter warrant holders who exercised their warrants at Rs 21.57 per warrant.

As of November 2023, the shareholding distribution indicates a rise in the stake held by Foreign Institutional Investors (FIIs) in the company. During the period from October 2023 to November 2023, FIIs acquired an additional 1,71,80,366 shares, causing their ownership to surge from 0.52 per cent to 7.61 per cent.

These exceptional results are underpinned by a strong order book of Rs 361 crore as of September 30, 2023. The portfolio is well-diversified, spanning power, railway, telecom, house wire, export, and EPC projects, providing clear visibility for continued growth.

The shares of the company have an ROE of 21.2 per cent and a ROCE of 14 per cent. The stock gave multibagger returns of 175 per cent in just 1 year and 1,200 per cent in 3 years. From Rs 1.61 per share to Rs 110 per share, the stock gave multibagger returns of over 6,700 per cent in a decade. Investors should keep an eye on this Small-Cap cable manufacturing stock.

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