Multibagger Penny Stock under Rs 80 with a strong Order Book will be in focus. Actually Paramount Communications Limited (NSE: PARACABLES) has achieved status of being the largest manufacturer and exporter of electric wires and cables. Paramount Communications share has a 52-week high of Rs 116.85 and 52-week low of Rs 62.75. The Penny stock has delivered multibagger returns of 737.21% in the last 5 years. The shares of Paramount Communications closed at Rs 72 on NSE. Check more details below.
What’s the Details?
Paramount Communications Limited a company working in the field of manufacturing and supplying electric wires and cables. According to a report from Volza.com, Paramount Communications Has become the largest producer and supplier of Electric wires and cables. In addition, Paramount Communications Ltd’ s direct exports to the US have increased significantly. In 2023, the company exported USD 31 million while it has now increased by 36% to USD 43 million in 2024. This represents the company’s strong presence and dominance in the wire and cable industry in the US.
Financial Performance of the Company
Paramount Communications’ net profit increased 4.31% to ₹20.33 crore in the September quarter (Q2FY25) while it was
₹19.49 crore in Q2FY24. In the quarter that ended in September 2024, the company’s sales increased 40.98% to ₹355.89 crore from ₹252.44 crore in the same period the previous year.
Paramount Communications Order Book
With a strong order book of Rs 619.30 crore Paramount Communications Ltd is poised for significant growth in the future.
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Penny Stock Surged 751% in the last 5 Years
With a market cap of Rs 2,195.53 Paramount Communications shares are trading at Rs 72. Talking about the share performance, the stock has given negative returns of 14.27% in the last one month. In the last one year, it has given negative returns of 31.01% however the share has delivered 751.27% in the last 5 years.
About Paramount Communications Limited
Incorporated 1978, Paramount Communications is a Electric wire and cable manufacturing company. It produces a range of cables for power, telecommunications, railroads, etc. The company has a strong client base in India. Tata Steel, Steel Authority India (SAIL), L&T, Bharat Heavy Electrical, BSNL, Powergrid, NTPC etc are some of the major clients in India. Apart from that, Paramount exports its products to markets in the United States, the United Kingdom, Bangladesh, Chile, Ghana, Libya, Myanmar, Nigeria, Tanzania, the United Arab Emirates, and Zambia. The company has manufacturing facilities in Khushkhera, Rajasthan, and Dharuhera, Haryana.
With a strong order book, this penny stock under Rs 80 should be kept under the radar.
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