Panache Digilife soars by 10 per cent upon securing Rs 19 crore order

In the early trading session on Wednesday, stock of Panache Digilife Limited soared by 10 per cent after the company announced that it had secured an order worth Rs 19 crore from a leading education company in India.

The order is to be executed by the end of the second quarter of FY21. It is expected to be a key growth driver for the company. In a filing to NSE, the company said that such an order further cements Panache's dominance as one of the most reliable players in the vastly competitive and dynamic educational space in India during the challenging times of COVID-19.

Speaking about the order win, Amit Rambhia, Chairman & Managing Director stated that the company was excited about the business opportunity in our educational line of business and looking forward to many such opportunities.

Panache Digilife Limited is an information technology hardware hub. The company provides electronic manufacturing solutions and operates in five divisions, namely, education division, telematics division, personal computer (PC) division, audio visual (AV) division and industrial design. The company's education solutions include various offerings for classroom learning, teaching and teach the teacher with new and innovative products.

The company's stock was trading at Rs 42.90 at 10.30 am on Wednesday, up by 10 per cent or Rs 3.90 per share. The 52-week high is recorded at Rs 72.80 and the 52-week low is Rs 33.30 on NSE.