Small-cap stock hits upper circuit. Jumps 175% in one year

Shares of Paramount Communications Ltd are one of the small-cap stocks listed on Dalal Street, which has given stellar returns to its shareholders in the last one year. This small-cap stock is one of the multibagger stocks that the Indian stock market has delivered in this time. However, the small-cap stock is still giving strong upside movement despite high volatility in frontline stocks. Paramount Communications share price today opened upside and went on to touch a 5 per cent upper circuit within a few minutes of the opening bell.

As mentioned above, this small-cap multibagger stock is one of those stocks that have attracted buying interest despite a strong sell-off in the stock market today. Out of the three key benchmark indices, the Nifty 50 index is down to the tune of 160 points, the BSE Sensex has lost over 650 points while the Bank Nifty index has tanked over 500 points during Thursday's dealings.

Paramount Communications share price history

In the last one month, Paramount Communications share price has risen from ₹92.60 to ₹110.05 apiece level, ascending to the tune of 18 per cent in this time. In the last six months, this multibagger small-cap stock has risen to the tune of 160 per cent whereas, in the last one year, this small-cap stock has delivered around 175 per cent return to its shareholders.

However, in the last five years, this multibagger stock has risen from around ₹10.90 to ₹110.05 apiece level, logging more than 900 per cent rise in this time.

Paramount Communications news

As per the latest exchange filing, the share allotment committee has allotted shares to its warrant holders for ₹21.57 apiece. The total number of shares allotted is 17 lakh. Among the allottees, Tinu Kakaria has been allotted 12 lakh shares whereas SCJ Colours Private Limited has been allotted 5 lakh shares.

Informing Indian stock market exchanges about the allotment of shares to the warrant holders, Paramount Communications said, "Pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, we wish to inform that the Share Allotment Committee of the Board of Directors of the Company, in its meeting held on January 25, 2024, has allotted 17,00,000 equity shares of face value Rs. 2/- each to the warrant holders belonging to non-promoters on exercise of warrants which was issued to them at the price of Rs. 21.57/- per warrant."

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