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News18
2 days ago
- Business
- News18
Protean eGov Tech Shares Jump 6% After Securing Rs 100 Crore Deal
Last Updated: Protean eGov Technologies shares surged 6% after the company secured a strategic Rs 100 crore contract from Bima Sugam India Federation Protean eGov Technologies Share Price: Protean eGov Technologies shares surged 6 per cent to an intraday high of Rs 1,009 on the BSE on Tuesday, June 10, following the announcement of a significant order win valued at around Rs 100 crore from the Bima Sugam India Federation (BSIF). In a regulatory filing to the stock exchanges, Protean eGov Technologies stated,'We are pleased to inform you that Protean eGov Technologies Limited ('the Company') has been awarded a prestigious and strategically significant work order valued at approximately Rs 100 crore, on June 9, 2025, by the Bima Sugam India Federation (BSIF) through the RFP process." The contract, secured through a competitive Request for Proposal (RFP) process, will see Protean serve as the Technology Solution Provider for the Bima Sugam digital marketplace platform. This comprehensive engagement covers the end-to-end design, development, implementation, support, and maintenance of the platform, including integration and marketplace protocol services. BSIF, a not-for-profit entity led by key players in India's insurance sector, governs Bima Sugam — a national initiative aimed at creating a unified digital marketplace for insurance products and services. The contract, valid for 72 months from the execution date, marks a major milestone for Protean, reinforcing its position in India's Digital Public Infrastructure (DPI) sector. Protean noted that this engagement further underscores its role as a trusted partner in delivering large-scale, citizen-centric digital services. Despite the recent rally, the stock has seen a sharp correction over the past year. It has declined by 12.62 per cent in the last 12 months, plummeted 50.82 per cent on a YTD basis, and fallen 50.47 per cent in the last six months. Over the past three months, the stock has dropped 31.73 per cent, and in the last month alone, it has slipped 24.87 per cent. First Published:
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Business Standard
2 days ago
- Business
- Business Standard
Protean eGov share price zooms 6% on securing this deal; key details here
Protean eGov Technologies share price: Protean eGov Technologies (Protean eGov) shares rose as much as 6.02 per cent to hit an intraday high of ₹1,009 per share on Tuesday, June 10, 2025. At 10:45 AM, Protean eGov share price was off day's high and was trading 3.81 per cent higher at ₹987.90 per share. In comparison, BSE Sensex was trading marginally higher (up 0.10 per cent) at 82,530.24 levels. What led to an uptick in Protean eGov share price today? Protean eGov shares were buzzing in trade after the company announced that it has secured a work order of 100 crore from Bima Sugam India Federation (BSIF) via request for proposal (RFP) process. In an exchange filing, Protean eGov said, 'We are pleased to inform you that Protean eGov Technologies has been awarded a prestigious and strategically significant work order valued at approximately ₹100 crore, on June 9, 2025, by the Bima Sugam India Federation (BSIF) through the RFP process.' Under the terms of the order, the company shall serve as the Technology Solution Provider for end-to-end development, implementation, support and maintenance of Bima Sugam Marketplace, platform integrations and marketplace protocols. This deal further strengthens Protean eGov's role as a trusted technology partner in India's Digital Public Infrastructure (DPI) journey, building on our legacy of enabling critical citizen-centric digital systems at national scale. The time period of this contract is 72 months from the date of execution of the contract, Protean eGov said. BSIF, a not-for-profit entity led by key stakeholders of the Indian insurance ecosystem, governs Bima Sugam - a digital public platform envisaged as a unified, nation-scale marketplace for insurance products and services. About Protean eGov Technologies Protean eGov Technologies is a technology company that specialises in delivering e-governance solutions, with a strong focus on building and managing digital public infrastructure (DPI). Formerly known as NSDL e-Governance Infrastructure Ltd., the company partners with government agencies to enhance public service delivery, streamline administrative processes, and foster financial inclusion. With a portfolio spanning taxation (PAN, TIN), social security (NPS, APY), and identity systems (Aadhaar), Protean eGov plays a crucial role in the implementation of citizen-centric digital services. Established in 1995 as a depository to support India's capital market infrastructure, Protean has since evolved into a key player in the country's digital transformation journey. It has been instrumental in building the foundational digital architecture for initiatives like 'Digital India' and is a trusted partner for system integration, IT consulting, and process re-engineering across the public sector. Its contributions—ranging from Aadhaar enrollment and eSign services to tax network modernisation—have had a great impact on improving governance, expanding financial access, and enabling secure digital identities for billions of Indians.
Business Standard
2 days ago
- Business
- Business Standard
Protean eGov Tech bags order worth Rs 100 cr from BSIF
Protean eGov Technologies announced that it has received an order worth Rs 100 crore from Bima Sugam India Federation (BSIF) through request for proposal (RFP) process. BSIF, a not-for-profit entity led by key stakeholders of the Indian insurance ecosystem, governs Bima Sugam - an ambitious digital public platform envisaged as a unified, nation-scale marketplace for insurance products and services. The company shall serve as the technology solution provider for end-to-end development, implementation, support and maintenance of Bima Sugam Marketplace, platform integrations and marketplace protocols. This engagement further strengthens the companys role as a trusted technology partner in Indias Digital Public Infrastructure (DPI) journey, building on its legacy of enabling critical citizen-centric digital systems at national scale. The project is scheduled for completion within 72 months from the contract execution date. Protean eGov Technologies is an IT solutions company engaged in developing digital public infrastructure and citizen-centric e-governance solutions. The companys consolidated net profit jumped 5.8% to Rs 20.40 crore on 0.03% increase in net sales to Rs 222.15 crore in Q4 FY25 over Q4 FY24. The counter rose 0.12% to end at Rs 951.65 on the BSE.
Economic Times
2 days ago
- Business
- Economic Times
Protean eGov Technologies shares in focus after Rs 100 crore order win
Protean eGov Technologies shares are likely to be in the spotlight on Tuesday, June 10, after the company announced it has secured a strategic work order valued at approximately Rs 100 crore from the Bima Sugam India Federation (BSIF). ADVERTISEMENT 'Pursuant to Regulation 30 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to inform you that Protean eGov Technologies Limited ('the Company') has been awarded a prestigious and strategically significant work order valued at approximately Rs 100 crore, on June 9, 2025, by the Bima Sugam India Federation (BSIF) through the RFP process,' the company disclosed in a filing to the stock exchanges. The contract was awarded on June 9, 2025, following a competitive RFP (Request for Proposal) process. Under this engagement, Protean will serve as the Technology Solution Provider for the Bima Sugam digital marketplace platform. The scope includes the end-to-end design, development, implementation, support, and maintenance of the platform, with emphasis on platform integrations and marketplace a not-for-profit entity led by key stakeholders in the Indian insurance sector, governs Bima Sugam — a national-scale initiative aimed at creating a unified digital marketplace for insurance products and domestic contract is valid for a period of 72 months from the execution date and reinforces Protean's growing footprint in India's Digital Public Infrastructure (DPI) space. ADVERTISEMENT The company highlighted that the engagement further cements its role as a trusted partner in delivering citizen-centric digital services at scale. Also read: Goldman Sachs, Morgan Stanley, others buy 1.45% stake in Suzlon Energy for Rs 1,309 crore ADVERTISEMENT Over the past one year, Protean eGov Technologies has seen its share price decline by 12.62%. The stock has recorded a 50.82% drop on a year-to-date (YTD) basis and a 50.47% fall over the last six months. In the past three months alone, the stock has slipped 31.73%, while in the last one month, it has registered a sharp decline of 24.87%.On Monday, Protean eGov Technologies shares closed flat at Rs 951.65 on the BSE. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Business Standard
3 days ago
- Business
- Business Standard
Protean eGov Technologies wins work order of Rs 100 cr
From Bima Sugam India FederationProtean eGov Technologies has been awarded a prestigious and strategically significant work order valued at approximately Rs 100 crore, on 09 June 2025, by the Bima Sugam India Federation (BSIF) through the RFP process. BSIF, a not-for-profit entity led by key stakeholders of the Indian insurance ecosystem, governs Bima Sugam - an ambitious digital public platform envisaged as a unified, nation-scale marketplace for insurance products and by Capital Market - Live News
