Multibagger stock Paramount Communications sets board meeting date to discuss fund raise. Share hits life-time high
Multibagger stock: The board of directors of Paramount Communications Ltd has set board meeting on 18th December 2023. The agenda of this meeting is to discuss the proposal for fund raise. The multibagger stock informed Indian stock market bourses about the same in its exchange filing on Wednesday.
Board meeting details
Informing about the fund raise proposal in upcoming board meeting, Paramount Communications Ltd said, “We wish to inform you that pursuant to Regulation 29(1)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the board of directors (the “Board”) of Paramount Communications Limited (the “Company”) is scheduled to be held on December 18, 2023 to inter alia consider proposal for raising of funds through of issuance of securities, in accordance with the provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013, as amended, subject to such regulatory/ statutory approvals as may be required.”
Also Read: IRCTC share price hits 52-week high. Experts see more upside
“The Board would also consider convening an extra-ordinary general meeting/ postal ballot process to seek approval of the shareholders in respect of the aforesaid proposal of fund raising, as required,” multibagger stock added.
Paramount Communications stock in action
After the outbreak of this stock market news, Paramount Communications share price witnessed buying interest during morning deals and went on to touch new life-time high of ₹82.65 per share levels during Thursday deals. The stock also touched 5 per cent upper circuit while climbing to its new high. In fact, this small-cap stock has hit upper circuit for the sixth straight session. This circuit to circuit stock has been hitting upper circuit since Thursday last week.
Also Read: Infosys, TCS to HCL Tech: Why IT stocks are skyrocketing after US Fed meeting?
Multibagger stock
Paramount Communications shares are one of the multibagger stocks that Indian stock market has produced in 2023. In YTD time, this small-cap stock has risen from around ₹36.55 to ₹82.65 per share levels, delivering to the tune of 125 per cent return in this time. However, in last one year, it has delivered around 235 per cent return to its positional investors.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 14 Dec 2023, 01:43 PM IST
