The share price of this penny stock that is engaged in Consumer Electronic & Electrical Goods and IT hardware services jumped 6 percent after receiving an order from Tata Memorial Centre.
With a market capitalization of Rs 11.21 crores, the shares of Panabyte Technologies Ltd moved up by 4.1 percent and closed at Rs 25.54 per share. Comparing today’s high of Rs 26.00 per share and to a previous close of Rs 24.53 per share, the shares surged by 6 percent.
The changes in the share price were observed after Panabyte Technologies received an order worth Rs 3.63 lakhs from Tata Memorial Centre – Advanced Centre for Treatment, Research & Education in Cancer ( ACTREC) to carry out the Supply, Installation, Testing, and Commissioning of CCTV Surveillance system in their Histopathology lab for the ( ACTREC) campus.As per company’s exchange filing.
Taking a look into the financials of Panabyte Technology , On a year-on-year basis,the revenue from operations decreased by 57 percent from Rs. 8.87 crores in FY22-23 to Rs 3.75 crores in FY23-24.
On the other hand, The net losses widened from Rs. 0.45 crores in FY22-23 to Rs 0.46 crores in FY23-24.
The shares of this company generated an overall return of 76.14 percent over the past one year and 55.35 percent over the past 6 months.
As of March 2024, its shareholding pattern stood at 17.03 percent for promoters and 82.97 percent for the public.
Incorporated in 1981, Panabyte Technologies is engaged in multi-product distribution viz., Consumer Electronic & Electrical Goods and IT Hardware & its peripherals and Sanitary products.
Written by Zahal
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
