Shares of Dev Information Technology were locked in a 5% low and hit a 52-week low of Rs 84.15 in morning trade on March 29.

At 9:18 am, Dev Information Technology was quoted at Rs 84.20 on the BSE, down Rs 4.35 or 4.91%.

The share price plunge came despite the company securing an order from the National Informatics Centre Service Inc for the Ministry of Electronics and Information Technology to design, develop, implement and maintain application software and a website for the Lok Sabha Secretariat.

The order is worth approximately Rs 3 crore and will be executed in six months.

On March 21, the company received an order from the National Informatics Centre Service Inc to design, develop, implement and maintain application software and websites for the Rajya Sabha Secretariat.

This is worth approximately Rs 91 lakh, and the project lasts six months.