Following this, the issued, subscribed and paid-up capital of the company increased from Rs 60.33 crore to Rs 60.58 crore.
Paramount Communications has stated in an exchange filing that ICRA, a credit rating agency, has given its long-term ratings on the company’s bank facilities. “ICRA, a Credit Rating Agency has, assigned its long-term ratings on the bank facilities of the Company at [ICRA]BBB-(Stable)’,” the company said in an exchange filing. After ICRA gave its long-term ratings on the company’s bank facilities, shares of Paramount Communications ended 6.98 per cent higher at Rs 86.87 apiece on the BSE during its last trading session. The multibagger stock has give 154.83 per cent return in one year.
Shares of ParaCables, which has market cap of Rs 2,443, have a 52-week high of Rs 116.70 and a 52-week low of Rs 32.55. Earlier, the wires manufacturer stated that the share allotment committee of the board of directors of the company has approved the allotment of 12.50 lakh equity shares on preferential basis.
Following this, the issued, subscribed and paid-up capital of the company increased from Rs 60.33 crore to Rs 60.58 crore. The company has reported a 54 per cent rise in its consolidated net profit at Rs 22.03 crore in the December quarter of the current fiscal, boosted by higher income.
It had posted a net profit of Rs 14.32 crore during the October-December quarter in the preceding financial year, the company said in an exchange filing on Saturday. The company’s total income rose to Rs 285.83 crore, up 29 per cent from Rs 221.99 crore in the year-ago period.