Shares of Paramount Communications To Be In Focus As Company Crosses Rs 1,000 Crore Revenue Mark

Shares of Paramount Communications Limited, established in 1955, will be in focus on Monday as the company has informed exchanges that it has achieved a milestone by crossing Rs 1,000 Cr revenue mark during the financial year.
The counter had closed at Rs 80.49 in the last trading session. The shares of the company, which has a market cap Rs 2427 crore, have a 52-week high of Rs 116.70 and a 52-week low of Rs 34.07. The counter has given a multibagger return of 112 per cent one year and 620 per cent in two years. In six months, the scrip has around 30 per cent.
Revenue from domestic operations in FY24 amounted to Rs.7,944.8 million, showing a 100.5 per cent Y-o-Y increase from Rs.3,961.8 million in FY23.
In terms of sales mix, domestic sales stood at 74.2 per cent and exports stood at 25.8 per cent.
Paramount, a wire and cable manufacturer, has two manufacturing facilities in Rajasthan and Haryana. It offers over 25 product types and 2,500 SKUs. With a nationwide and international presence, Paramount has pioneered in introducing Lead-free House Wires, undersea cables repair and installation, and Axle Counter cables for Railways.
Meanwhile, equity benchmark indices Sensex and Nifty scaled new peaks on Friday in intraday deals before closing marginally lower due to profit booking in FMCG, IT and healthcare stocks. A weak trend in global equities weighed on the sentiments, but renewed foreign capital inflows and stable crude oil prices in international markets supported the markets, traders said.
Markets were on a record-breaking rally for the second straight day ahead of the results of Lok Sabha polls on June 4.