Multibagger Stock Under Rs 100: Shares of smallcap company Paramount Communications rose over 9 percent on Friday. The stock opened at Rs 90.70 and made an intraday high of Rs 98.70. On Friday, it closed at Rs 84, up 5.44 percent. Shares of FII-backed Paramount Communications have been rising for the last two sessions. Its shares are trading above 5-day, 20-day, 50-day, 100-day, and 200-day moving averages.

Paramount Communications: Buy or Sell?

Riyank Arora, technical analyst at Mehta Equities, said that Paramount Communications shares are facing resistance at Rs 98, but the overall trend remains positive. If this resistance is crossed, targets of Rs 115 and Rs 120 can be achieved.

"Technical indicators like RSI are showing bullish signals and volume pattern is indicating strong interest. A close above Rs 98 and a stop loss below Rs 95 may confirm further upside," he added.

What does Paramount Communications do?

Paramount Communications is one of the largest manufacturers of cables and wires. It produces a wide range of industrial cables. The company is the largest supplier of special cables to the Indian Railways.

Paramount Communications Share Price History

Paramount Communications is a constituent of the BSE Smallcap Index. According to BSE Analytics, its shares have given a positive return of 33 percent in the last 6 months and 45 percent in one year. In the last 2 years, the counter has jumped 385 percent. In the last 3 years, the stock has given its investors a return of 633 percent, and in 5 years, it has returned 855 percent. In 10 years, it has jumped 2,463 percent, resulting in gains for investors.

The 52-week range of Paramount Communications shares is between Rs 116.70 and Rs 51.20. According to the BSE website, the market cap of the company as of September 13 is Rs 2,884.45 crore. As per the shareholding pattern of the company, the founder holds a 49.13 percent stake, followed by non-institutional investors with 43.58 percent and FIIs with 7.11 percent.