Latest news with #BimaSugamIndiaFederation
News18
3 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:
Business Standard
3 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.
India Today
3 days ago
- Business
- India Today
Stocks to watch on June 10: Wipro, Tech Mahindra, Motilal Oswal, Premier Energies
Markets started the new week on a positive note, continuing Friday's gains. Sensex and Nifty rose nearly half a percent, driven by favourable trends in both domestic and global are hopeful that the rally will continue. As trading resumes on June 10, here are some of the key stocks to keep an eye on:PROTEAN EGOV TECHNOLOGIESProtean eGov Technologies has bagged a work order worth around Rs 100 crore from the Bima Sugam India Federation (BSIF). The order involves complete development, running, and maintenance of the Bima Sugam Marketplace. The company will also handle all platform integrations and marketplace-related protocols. This is expected to be a major step for Protean in the digital insurance services came into focus after a large block deal. The Azim Premji Trust, which is the promoter entity, sold 20.23 crore shares of the company. The total value of the deal stood at Rs 5,057 crore. This major transaction may impact the stock price in the short ENERGIESAccording to a CNBC-TV18 report, South Asia Growth Fund II Holdings is likely to offload 2.5 crore equity shares of Premier Energies through a block deal. This represents around 5.5% of the company's paid-up capital. The floor price for the sale is expected to be Rs 1,051.50 per OSWAL FINANCIAL SERVICES (MOFSL)Sebi has imposed a fine of Rs 3 lakh on Motilal Oswal Financial Services for breaking certain rules. This penalty follows an investigation into the firm's conduct in capital market operations. The exact nature of the violation has not been disclosed, but this development could attract some investor MAHINDRATech Mahindra announced that Lakshmanan Chidambaram, President of Tech Mahindra Americas – strategic vertical business, will retire on June 30. His exit may affect investor sentiment, especially in the company's US-based GLOBAL CAPITALCapri Global Capital opened its Qualified Institutions Placement (QIP) for subscription on June 9. The floor price is set at Rs 153.93 per share. Reports suggest that the QIP size could go up to Rs 2,000 crore, including a Rs 500 crore upsize option. This move is aimed at raising capital to support business SMALL FINANCE BANKJana Small Finance Bank has applied to the Reserve Bank of India to convert itself into a universal bank. If approved, this would allow the bank to offer a wider range of services. The decision is seen as a step forward in the bank's growth REALTYPankaj Gupta has stepped down as CEO of the Commercial Real Estate division of Oberoi Realty. His resignation took effect on June 9. The company has not announced a replacement PHARMA INDIASanjeev Kumar Panchal, the Managing Director of AstraZeneca Pharma India, has resigned. His last working day will be June 30. AstraZeneca is expected to begin the process of finding a new MD MOTORSForce Motors saw a top-level change as its CFO, Sanjay Kumar Bohra, resigned on June 9. The company has appointed Rishi Luharuka as the new Chief Financial Officer starting June 10. This leadership change may lead to new strategies in the company's financial planning. advertisement
Economic Times
3 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)
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Business Standard
4 days ago
- Business
- Business Standard
Protean eGov Tech bags order worth ₹100 cr from Bima Sugam Marketplace
Protean eGov Technologies has secured a work order worth approximately ₹100 crore from the Bima Sugam India Federation (BSIF) through the request for proposal (RFP) process. As per the terms outlined in the work order, Protean will act as the Technology Solution Provider for the complete development, implementation, support, and maintenance of the Bima Sugam Marketplace. The scope also includes platform integrations and adherence to marketplace protocols. Protean is a public technology firm known for its role in designing, implementing, and managing large-scale digital infrastructure projects for various government entities. 'This engagement further strengthens Protean'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 company said in an exchange filing. Q4 financial results In the fourth quarter of FY25, the company reported a consolidated net profit of ₹20 crore, marking a 6 per cent year-on-year increase. Revenue from operations remained steady at ₹222 crore during the same period. For the full financial year, Protean posted consolidated revenue from operations of ₹841 crore, reflecting a 5 per cent decline year-on-year. EBITDA for FY25 stood at ₹149 crore, down from ₹157 crore in FY24. The EBITDA margin was recorded at 16.3 per cent. Promoter divestments and stake sales In November, NSE Investments, classified as a non-promoter, proposed to sell 4,117,303 shares through an offer-for-sale (OFS), representing a 10.16 per cent base offer stake. The OFS was scheduled for 22–25 November, with the floor price set at ₹1,550 per share. On 8 August 2024, Standard Chartered Bank exited its 3.09 per cent stake in Protean through an open market transaction. According to BSE bulk deal data, it sold 1.2 million shares at an average price of ₹1,799.79 per share, totalling ₹224.97 crore. Earlier, on 21 May 2024, HDFC Bank sold its entire 3.20 per cent holding in Protean. The bank offloaded 1,294,326 shares at an average price of ₹1,160.15 per share, generating a transaction value of ₹150.16 crore.
