Paramount Communications to set up new facility in Alwar, Rajasthan

Paramount Communications Ltd has announced that the Company has commenced land development and civil construction on 25 acres of land in Khushkhera Industrial Area, Distt. Alwar, Rajasthan for setting up of a new manufacturing facility for Power Cables in accordance with the 3rd phase expansion plan of the Company. The said land is located just opposite to the existing plant of the Company and has been recently allotted to the Company by RIICO, Rajasthan.

The main objective of this land acquisition is to embark on further expansion by induction of additional capacity in Power Cables.

The stock closed the day at Rs.30.75, down by Rs.0.75 or 2.38%. The stock hit an intraday high of Rs.32.25 and low of Rs.30.65. The total traded quantity was 554701 compared to 2 week average of 1636042.

Source : Equity Bulls

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