Promoter sold 2,87,500 shares: Multibagger penny stock under Rs 40 jumps 50 per cent in just 3 days; Earlier bagged orders from MOP&NG and MoD
The stock gave multibagger returns of over 150 per cent in just 1 year whereas BSE Sensex Index is up by 24 per cent.
On Wednesday, one of the Top Gainers on BSE, shares of Panabyte Technologies Limited hit 20 per cent upper circuit to Rs 36.73 per share from its previous closing of Rs 30.61 per share. The stock also made a fresh 52-week high of Rs 36.73 and its 52-week low is Rs 13.40 per share. The shares of the company are up by 50 per cent in just 3 days and saw a spurt in volume by 2.4 times on BSE.
Orders Update: Panabyte Technologies Limited has secured two significant contract orders. The first, valued at Rs. 1,99,97,265.53, is from Mangalore Refinery & Petrochemicals Limited under the Ministry of Petroleum and Natural Gas for an Attendance Monitoring Access Control System. The second, worth Rs. 2,62,04,021, is from a laboratory under the Department of Defence Research & Development (DRDO) for Procurement, Installation, and Commissioning of Human and Vehicle Access Control. Both orders are domestic contracts requiring immediate execution, reflecting the company's growing presence in the critical infrastructure and defence sectors.
Promoter Stake Sold Update: Promoter Amit Devchand Rambhia sold a total of 2,87,500 equity shares of Panabyte Technologies Ltd between August 19 and 20, 2024, significantly reducing his stake in the company from 6.563 per cent to 0.014 per cent. This information was disclosed to the BSE under SEBI's Substantial Acquisition of Shares and Takeovers Regulations. Now, Amit Devchand Rambhia have 613 shares of the company.
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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 Rs 16.12 crore. The stock gave multibagger returns of over 150 per cent in just 1 year whereas BSE Sensex Index is up by 24 per cent. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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