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Business News/ Markets / Stock Markets1.50 to 87: Penny stock turns multibagger in 10 years. Shares rise 5700%
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₹1.50 to ₹87: Penny stock turns multibagger in 10 years. Shares rise 5700%

Multibagger stock: ICRA has assigned a long-term rating of 'BBB-' or 'triple B minus' to the bank facilities of ₹150 crore to the company

The multibagger stock has risen to the tune of 665% in the last five years. (Photo: Mint)Premium
The multibagger stock has risen to the tune of 665% in the last five years. (Photo: Mint)

Multibagger stock: Shares of Paramount Communications Ltd will be in focus when the Indian stock market opens on Monday. The major reason behind this buzz is the rating update by the globally renowned rating agency ICRA. After the close of the Indian stock market on Friday, the multibagger stock informed Indian exchanges that ICRA has assigned a long-term rating of 'BBB-' or 'triple B minus' to the bank facilities of 150 crore to the company. So, the market is expecting a sharp upside in the multibagger stock during Monday deals.

Paramount Communications news

The small-cap company informed Indian stock market exchanges about the development saying, "Pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that ICRA, a Credit Rating Agency has assigned its long-term ratings on the bank facilities of the Company at [ICRA]BBB-(Stable)’."

Also Read: Is it wise to buy HDFC Bank shares before Q4 results 2024?

The small-cap company went on to add that the aforesaid Rating(s) will be due for surveillance any time before March 27, 2025. However, ICRA reserves the right to review and/or, revise the above Rating(s) at any time based on new information becoming available, the required information not being available, or other circumstances that ICRA believes could have an impact on the Rating(s).

Paramount Communications share price history

The small-cap stock below 100 has a history of delivering whopping returns to its shareholders. As per the Paramount Communications share price history, the small-cap stock under 100 has surged from nearly 79 to 87 apiece levels on BSE, registering a 10 percent rise in this time. In the last six months, this small-cap multibagger stock has risen from around 63 to 87 apiece, recording around 35 percent appreciation in this time horizon. In the last one year time, this small-cap stock has delivered multibagger returns to its long-term positional investors. The stock has ascended nearly 150 percent in the last one year. In the last five years, this multibagger stock has risen from around 11.35 to 87 apiece levels, logging a nearly 665 percent rise in this time. Likewise, in the last 10 years, this small-cap stock has gone on to become a multibagger stock from being a penny stock price at 1.50 apiece. In the last decade time, this small-cap stock has risen from 1.50 to 87 per share level, delivering a 5,700 percent return to its investors, who remained invested in the scrip throughout this period.

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

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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: 06 Apr 2024, 02:31 PM IST
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