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Business News/ Markets / Stock Markets/  Multibagger stock Paramount Communications touches lifetime high. Rises 700% in five years
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Multibagger stock Paramount Communications touches lifetime high. Rises 700% in five years

Multibagger stock has risen from ₹11.75 apiece to ₹98.50 per share on NSE in the last five years

Stock market today: Multibagger stock today touched a new lifetime high of ₹98.50 apiece during morning deals. (PHOTO: AFP)Premium
Stock market today: Multibagger stock today touched a new lifetime high of 98.50 apiece during morning deals. (PHOTO: AFP)

Stock market today: Shares of Paramount Communications Ltd are one of the multibagger stocks delivered by the Indian stock market in recent years. This stock below 100 has risen from around 36 to 98.50 apiece level in the last one year, delivering to the tune of over 150 per cent return to its shareholders in this time. However, it seems that multibagger stock still has the potential to move upside.

Paramount Communications share price today opened upside at 95.90 apiece level on NSE and went on to touch an intraday high of 98.50 per share level, logging an intraday high of over 3.50 per cent on Friday. While ascending to this intraday high, Paramount Communications share price touched a new lifetime high during Friday dealings. However, the stock witnessed profit booking at higher levels and retraced from its new high.

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Paramount Communications share price history

In the last one month, Paramount Communications share price has risen to the tune of 22 per cent while in the last six months, this multibagger stock has given more than a 150 per cent return to its investors. But, in the last five years, this multibagger stock has risen from around 11.75 to 98.50 apiece level, recording a nearly 700 per cent rise in this time.

Also Read: Polycab India Stock: Over 28% drop in 6 sessions leads to retail investors losing 3,108 crore

Paramount Communications shares news

The board of directors of Paramount Communications Ltd has increased its authorized share capital. In its latest stock market exchange filing, Paramount Communications Ltd said, "In continuation to our intimation dated 20" December 2023, the Extra Ordinary General Meeting (EGM) of the Company was held on Thursday, 11th January, 2024 at 12.30 P.M., through Video Conferencing / Other Audio-Visual Means (VC/OAVM), to transact the businesses as stated in the Notice of Extra Ordinary General Meeting dated 20th December, 2023, the Authorised Share Capital of the Company was increased from 70,00,00,000/- (Rupees Seventy Crores only) divided into 30,00,00,000 ( Thirty Crores Only) Equity Shares of 2/- ( Rupees Two only) each and 10,00,000 ( Ten Lakhs only ) Redeemable Preference Shares of 100/-( Rupees One Hundred only) each to 80,00,00,000/- (Rupees Eighty Crores only) divided into 35,00,00,000 ( Thirty Five Crores Only) Equity Shares of 2/- ( Rupees Two only) each and 10,00,000 ( Ten Lakhs only ) Redeemable Preference Shares of 100/-( Rupees One Hundred only) each by the addition there to asum of 10,00,00,000/- (Rupees Ten Crores only) divided into 5,00,00,000 ( Five Crores Only) Equity Shares of 2/- ( Rupees Two only) each of the Company."

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decision.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 12 Jan 2024, 02:20 PM IST
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