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Penny stock at Rs 25.22 up 90 per cent from its 52-week low; Company bags new order worth


The stock gave 90 per cent returns from its 52-week low of Rs 13.26 per share.

Panabyte Technologies Limited, previously known as Panache Innovations Limited, bearing CIN-L51100MH1981PLC312742, has achieved the distinction of being designated as the L1 Agency and has successfully secured a tender from the Tata Memorial Centre – Advanced Centre for Treatment, Research & Education in Cancer (ACTREC) for the execution of supply, installation, testing, and commissioning (SITC) of a CCTV surveillance system.

This system is intended for deployment in the ground floor post-dose waiting area and isolation rooms situated on the 4th and 5th floors of the RRU building within the ACTREC campus and it is of domestic origin. The timeframe for the execution of the contract is immediate, reflecting the urgency of the project. The total consideration for this endeavour amounts to Rs 18,90,590.35 (inclusive of taxes).

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Panabyte Technologies Ltd, formerly known as Panache Innovations Ltd, is a company established in 1981 that deals in a wide range of products. They design and manufacture ICT and IoT devices, and offer various solutions including Smart Computing Devices, Smart Classrooms, and Smart Asset Management. Additionally, they distribute a vast array of products including consumer electronics, IT hardware, sanitary products, telecom equipment, batteries, and lighting products. They even hold a brand license agreement with HYUNDAI for specific product categories in India.

The company has a market cap of over Rs 10 crore. Today, shares of Panabyte Technologies Limited hit a 5 per cent upper circuit to Rs 25.22 per share from its previous closing of Rs 24.02. The stock gave 90 per cent returns from its 52-week low of Rs 13.26 per share. The shares of the company saw a spurt in volume by more than 1.50 times on BSE.  

Investors should keep an eye on this micro-cap stock.

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Read More: Penny stock at Rs 25.22 up 90 per cent from its 52-week low; Company bags new order worth

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