Multibagger stock Paramount Communications touches lifetime high. Rises 700% in five years

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Stock market today: Shares of Paramount Communications Ltd are one of the multibagger stocks delivered by the Indian stock market in recent years. This stock below ₹100 has risen from around ₹36 to ₹98.50 apiece level in the last one year, delivering to the tune of over 150 per cent return to its shareholders in this time.

However, it seems that multibagger stock still has the potential to move upside. Paramount Communications share price today opened upside at ₹95.90 apiece level on NSE and went on to touch an intraday high of ₹98.50 per share level, logging an intraday high of over 3.50 per cent on Friday.

While ascending to this intraday high, Paramount Communications share price touched a new lifetime high during Friday dealings. However, the stock witnessed profit booking at higher levels and retraced from its new high.

Also Read: Budget 2024: IRCTC, IRFC, RVNL to Ircon — Why railway stocks are skyrocketing? In the last one month, Paramount Communications share price has risen to the tune of 22 per cent while in the last six months, this multibagger stock has given more than a 150 per cent return to its investors. But, in the last five years, this multibagger stock has risen from around ₹11.75 to ₹98.50 apiece level, recording a nearly 700 per cent rise in this time.

Also Read: Polycab India Stock: Over 28% drop in 6 sessions leads to retail investors losing ₹3,108 crore The board of directors of Paramount Communications Ltd has increased its authorized share capital. In its latest stock market exchange filing, Paramount Communications Ltd said, "In continuation to our intimation dated 20" December 2023, the Extra Ordinary General Meeting (EGM) of the Company was held on Thursday, 11th January, 2024 at 12.30 P.M.,