Stock Analysis: Paramount Communications Ltd
Intro
Paramount Communications Ltd. is involved in the manufacturing of wires and cables comprising of power cables, telecom cables, railway cables, and specialised cables. Clientele includes Indian Railways, BSNL, RailTel, Tata Projects Limited, Adani Renewables, Adani Power, L&T, Siemens, etc.
Fundasmentals
Market Cap: ₹ 2,378 Cr.; Stock P/E: 24.5 (Ind. P/E: 37.52)
ROCE14.7 %; ROE18.4 %
Compounded Profit Growth 3 Years: 202%
Compounded Sales Growth 3 Years: 27%
Technicals
The stock has been trading in a box pattern for over five months.
It has strong support around 69, followed by 63 and 48 levels.
Resistance levels: 86, 98, 116 levels
In the last couple of sessions, the stock showed a positive volume spurt, indicating interest among institutional investors.
For greater returns, the stock should trade above 87 levels in the weekly closing.
Similarly, 20EMA (black line) should cross above 50EMA level (orange line).
Paramount Communications Ltd. is involved in the manufacturing of wires and cables comprising of power cables, telecom cables, railway cables, and specialised cables. Clientele includes Indian Railways, BSNL, RailTel, Tata Projects Limited, Adani Renewables, Adani Power, L&T, Siemens, etc.
Fundasmentals
Market Cap: ₹ 2,378 Cr.; Stock P/E: 24.5 (Ind. P/E: 37.52)
ROCE14.7 %; ROE18.4 %
Compounded Profit Growth 3 Years: 202%
Compounded Sales Growth 3 Years: 27%
Technicals
The stock has been trading in a box pattern for over five months.
It has strong support around 69, followed by 63 and 48 levels.
Resistance levels: 86, 98, 116 levels
In the last couple of sessions, the stock showed a positive volume spurt, indicating interest among institutional investors.
For greater returns, the stock should trade above 87 levels in the weekly closing.
Similarly, 20EMA (black line) should cross above 50EMA level (orange line).
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