Stocks of this technology solutions company surge up to 20% in the past two trading sessions

Stocks of this technology solutions company surge up to 20% in the past two trading sessions

Indian Market
by 5paisa Research Team Last Updated: 2022-10-31T14:23:44+05:30

On Monday, the shares of Panache Digilife locked in an upper circuit on an intraday basis gaining 20.91% in the past two trading sessions.

Panache Digilife is an ICT & IoT devices design, manufacturing, distribution and services company. The shares of this company were seen freezing at 9.95% upper circuit in the initial hour of the trading session. The company’s shares are locked at Rs 81.25 per share on an intraday basis.

The announcement regarding the manufacture and supply agreement with Revamp Moto Private Limited for EV Vehicles in Indian Market has given a boost to investors' sentiments towards the shares of Panache Digilife. Revamp Moto, a Nashik-based start-up engaged in the development of connected Electric Vehicles based on its Modular Utility Platforms intends for accelerating the transition to a zero-emission society.

Both companies are aiming on enhancing their strengths with Revamp Moto working on new product development (NPD), Research and Development (R&D), new technologies, and generating IPs.

Panache Digilife will focus on quality product assembly, process optimisation, and indigenisation of components which makes it foray into the Indian EV market. This alliance will help both Revamp and Panache focus on their specific domains to indigenous EV manufacturing and assembly of these products bringing in higher transparency and accelerating the process significantly.

The shares started showing activity in the previous two trading sessions and rallied around 20%. The shares have been trading lower and in a sideways trend for the past 6 months. The shares have hit a price reasonably close to its 6-month high price. On the valuation front, compared to its peers, the shares of Panache Digilife are trading at a higher PE ratio.

As the shares of Panache Digilife are showing positive momentum, investors should keep these shares on their radar for Monday’s trading session as well as upcoming trading sessions.

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