Protean eGov of PAN fame crashes 20% as govt turns down bid.
Protean eGov Technologies witnessed a sharp decline of 20% in its stock price in a single day, falling from INR1,430 on Friday to INR1,015. The stock was downgraded after the Income Tax Department (ITD) turned down the company's bid for the contract of PAN 2.0 – a government initiative to add new features to the existing PAN (Permanent Account Number) card and make it more tech-oriented. The company is known for processing and issuing PAN cards,
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