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Onward Technologies Limited strengthens its finance team

Posted On: 2019-11-07 13:25:30

Onward Technologies Limited (BSE: 517536; NSE: ONWARDTEC), a global player in mechanical engineering design and IT consulting services announced appointment of Mr. Devanand Ramandasani as Chief Financial Officer (CFO) with effect from 23rd October, 2019. He will be responsible for the overall finance, strategy, accounting, legal and growth initiatives of the company. The Company also appointed Mr. Prasan Abichandani as Vice President (VP) and he will be responsible for corporate finance and investor relations.

These senior level appointments are in line with Company's strategy to strengthen the finance and related strategic verticals. These initiatives will support Onward Technologies' transition into the next phase of growth. Focused on enhancing profitability by servicing Fortune 1,000 & large enterprise clients, the Company has been delivering consistently improving financial performance over the past six quarters.

Commenting on the new appointments, the Managing Director, Mr. Jigar Mehta said, "We are delighted to welcome Devanand and Prasan to Onward Technologies. They both complement our strong performance oriented culture, and we believe their impressive track record makes them a right fit to drive finance and related strategic initiatives".

Devanand Ramandasani (CFO): Devanand is a Chartered Accountant and brings with him over 14 years of experience in Accounts, Finance and Taxation in the technology services industry. He has worked with leading organizations like Accenture, Infosys and Datamatics in the recent past, where he was Financial Controller based in Mumbai.

Prasan Abichandani (VP - Corporate Finance and Investor Relations): Prasan is a management graduate and has completed Executive Program in Business Management from IIM, Calcutta. He brings over 15 years of experience in corporate finance & banking, and investments. He has worked across leading organizations such as HSBC, Yes Bank, Kamala Group and Radius Developers.

Shares of ONWARD TECHNOLOGIES LTD. was last trading in BSE at Rs.67.85 as compared to the previous close of Rs. 66.4. The total number of shares traded during the day was 2132 in over 26 trades.

The stock hit an intraday high of Rs. 67.85 and intraday low of 65.15. The net turnover during the day was Rs. 142884.

Source: Equity Bulls

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