Penny stock under Rs 50 receives Order of Rs 7,58,629 from Master Control Facility (MCF), Hassan, under the Department of Space

On Monday, shares of Panabyte Technologies Limited gained 1.41 per cent to Rs 38 per share from its previous closing of Rs 37.47 per share. The stock’s 52-week high is Rs 63.36 per share and its 52-week low is Rs 26.63 per share.

Panabyte Technologies Limited (CINL51100MH1981PLC312742) has been awarded a domestic, non-comprehensive Annual Maintenance Contract (AMC) by the Master Control Facility (MCF), Hassan, which operates under the Department of Space, Government of India. The work order, valued at Rs 7,58,629, is for the maintenance of the fire alarm system and is to be executed over a period of two years. Panabyte Technologies expressed its gratitude and delight for the trust shown by the renowned organisation in awarding this contract.

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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, fire alarm systems, 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 19.5 crore. The stock is up by 48 per cent from its 52-week low of Rs 23.10 per share and has given multibagger returns of 160 per cent in 2 years.

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