Multibagger penny stock under Rs 50 hit lower circuit after bagging an order worth Rs 36,18,437 from Mumbai Aviation Fuel Farm Facility Pvt Ltd

On Friday, shares of Panabyte Technologies Limited hit a 5 per cent lower circuit to Rs 42.46 per share from its previous closing of Rs 44.69 per share. The stock’s 52-week high is Rs 63.36 per share and its 52-week low is Rs 23.10 per share.

Panabyte Technologies Ltd has been awarded a Comprehensive Annual Maintenance Contract (AMC) for the CCTV System at the Mumbai Aviation Fuel Farm Facility Pvt. Ltd. (MAFFFL). The domestic contract is valued at Rs 36,18,437 and is to be executed over a period of four years. This work order reflects the trust placed in Panabyte Technologies by a major domestic organisation.

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 Rs 21.78 crore. The stock is up by 84 per cent from its 52-week low of Rs 23.10 per share and has given multibagger returns of over 200 per cent in 2 years.

Disclaimer: The article is for informational purposes only and not investment advice.