Latest news with #Protean
News18
3 days ago
- Sport
- News18
'Hope To Be Back Soon': CSK's Dewald Brevis Bids Emotional Farewell After IPL 2025 Exit
Last Updated: Dewald Brevis, who scored 225 runs in six IPL 2025 matches, thanked the Chennai Super Kings and their fans for the experience. It's the end of the road in IPL 2025 for the Chennai Super Kings, and their fiery new find, South Africa's Dewald Brevis, who thanked the franchise and fans after completing a short but impressive stint this season in his farewell note. Brevis, who joined CSK as an injury replacement midway through the season, scored 225 runs in six matches at a strike rate of 180 and an average of 37. His performances were one of the few positives in what was otherwise an utterly demoralising season for the five-time champions, who finished last on the IPL points table for the first time in their history. The 22-year-old Protean took to social media to post an emotional farewell note, expressing gratitude towards the team and their fans for welcoming him warmly and giving him an opportunity to contribute.
News18
25-05-2025
- Sport
- News18
SRH Create History In Delhi! Break IPL Record For Highest-Ever...
Last Updated: SRH unleashed a record-highest IPL total (at Delhi)-- and the third-highest in IPL history -- against KKR, with Heinrich Klassen scoring the third-fastest century in IPL history. Dead rubber? No worries for SRH, who still let it fly, as the Pat Cummins-led side unleashed all hell upon KKR at Delhi tonight, registering the record-highest IPL total ever at the venue, alongside posting the third-highest total in IPL history with their outing of 278 runs on Sunday. It was nothing but pure destruction at the Arun Jaitley Stadium, where SRH won the toss and elected to bowl first against the Kolkata Knight Riders. The now-classic fiery duo of Abhishek Sharma and Travis Head put up a show for all, putting up 95 runs with the first 7 overs to start. Head scorched with his fiery 70 off 40 balls, but the showstopper was yet to arrive: Heinrich Klassen. The blistering Protean unleashed all hell upon the KKR bowling ranks, walloping everyone at will for boundaries galore. Before they knew it, the wicketkeeper-batter brought up his century in just 37 balls: the third-fastest century in IPL history. advetisement Fastest Centuries In IPL History 30 balls – Chris Gayle (RCB) vs PWI, Bengaluru, 2013 35 balls – Vaibhav Suryavanshi (RR) vs GT, Jaipur, 2025 37 balls – Yusuf Pathan (RR) vs MI, Mumbai BS, 2010 37 balls – Heinrich Klaasen (SRH) vs KKR, Delhi, 2025* 38 balls – David Miller (KXIP) vs RCB, Mohali, 2013 When the blitzkrieg finally came to an end, the remains of an obliterated KKR bowling effort were reflected in the mammoth total: 278 runs — the highest total in Delhi and the third-highest total in IPL history. Highest Team Totals In IPL History 287/3 – SRH vs RCB, Bengaluru, 2024 286/6 – SRH vs RR, Hyderabad, 2025 278/3 – SRH vs KKR, Delhi, 2025 277/3 – SRH vs MI, Hyderabad, 2024 272/7 – KKR vs DC, Visakhapatnam, 2024 The most interesting part of this equation is that SRH merely outdid their previous best of 277 to claim the third spot, while also occupying the top two spots for the highest ever totals posted in IPL history. KKR will have a mountain and a half to climb, and shall have to register what could possibly be the biggest-ever IPL run chase in history to claim victory tonight. Watch CNN-News18 here. Stay updated with all the latest news on IPL 2025, including the schedule, Points Table, IPL Orange Cap, and IPL Purple Cap. Get latest Cricket news, live score and match results on News18. Download the News18 App to stay updated! First Published: May 25, 2025, 21:40 IST
India Today
20-05-2025
- Business
- India Today
Explained: Why Protean eGov shares are in free fall
Shares of Protean eGov Technologies plunged for a second straight session on Tuesday, extending their two-day rout to nearly 30%. After crashing 20% on Monday, the stock fell another 13% in early 11:10 am, shares of the company rebounded to trade at Rs 1,069.55, down 6.43%. It may be noted that the company was informed by the Income Tax Department (ITD) that it is no longer in the running for a key government technology revamp The project, part of the PAN 2.0 initiative, includes the design, development, operations and maintenance of the PAN system—a business segment where Protean has long been a major a filing on Sunday, the company said it had participated in the bidding process to be selected as a Managed Service Provider (MSP) for the PAN 2.0 project. However, it received a communication from the ITD that it had 'not been considered favourably for the next round.'Protean tried to reassure investors, stating that the development would have 'limited or minimal impact' on its existing PAN processing and issuance services under its current mandate with the tax department. But the market wasn't the stock now giving up all its gains over the past year, it is down nearly 15% on a 12-month basis. The sharp correction is also notable given that ace investor Ramesh Damani held a 1.05% stake in the company as of the March institutional investors, major state-run banks hold significant stakes, SBI (4.93%), Axis Bank (3.18%), PNB (2.25%), Bank of Baroda (1.54%) and Canara Bank (1.23%).Despite the selloff, analysts aren't unanimously bearish. Trendlyne data shows the stock has two 'buy' ratings and one 'sell', with an average target price of Rs 1,896—a potential upside of 66 percent from current levels.
Time of India
20-05-2025
- Business
- Time of India
Protean eGov Technologies shares plummet 30% after not being selected for PAN 2.0 project of Income Tax Department
Protean share price crash: shares plunged another 13% on Tuesday morning, following Monday's 20% drop. The significant decrease came after the did not select the company, in which notable investor holds stakes, for their systems technology upgrade project. Tired of too many ads? go ad free now The company's shares have crashed by more than 30% over two trading sessions. With continued downward pressure, the stock could potentially reach its 52-week low of Rs 930, according to an ET report. During the opening trading session, the shares were valued at approximately Rs 995. At 11:24 AM, shares of Protean eGov Technologies were trading at Rs 1,073.20, down Rs 70 or 6.12%. The company disclosed through a regulatory filing on Sunday that the Income Tax Department had not selected them for the next phase of the RFP selection procedure. The filing detailed that the project encompassed "Design, Development, Implementation, Operations, and Maintenance of PAN systems at the Income Tax department". The company stated, "It appears to have limited or minimal impact on our ongoing PAN processing and issuance services under the existing mandate with the ITD." Protean submitted a proposal to be considered as a Managed Service Provider (MSP) for the design, implementation, operation and maintenance responsibilities of their PAN 2.0 Project. The share price has declined, erasing its previous year's positive performance, resulting in a 15% decrease over the past 12 months. Notable investor Ramesh Damani maintained a 1.05% ownership position in the organisation as of March quarter's end. The company's institutional shareholders comprise several major banks: Canara Bank (1.23%), Bank of Baroda (1.54%), Punjab National Bank (2.25%), Axis Bank (3.18%), and State Bank of India (4.93%).
Mint
20-05-2025
- Business
- Mint
Protean eGov shares tumble 31% in 2 days after I-T Dept rejects bid for PAN 2.0 project; should you still buy?
Shares of Protean eGov Technologies Ltd extended their sharp decline on Tuesday as the market reacted negatively to the company's exclusion from the next phase of the Income Tax Department's PAN 2.0 project. The stock has lost over 31 percent in just two trading sessions, dragging valuations near their 52-week lows. Protean eGov, which had submitted a proposal for the role of managed service provider (MSP) in the ambitious PAN 2.0 project, said the Income Tax Department has not considered its bid favourably for the next round of selection. In an exchange filing, the company clarified that this development is not expected to materially impact its ongoing PAN issuance and processing operations under the current agreement. "We were informed by the Income Tax department that we have not been considered favourably for the next round of RFP selection process," the company noted, adding that any further updates will be communicated as required. It further explained that PAN 2.0 involves a broader technological revamp of the system, while its existing PAN services remain unaffected for now. "In our understanding this is a project for Technology revamp which include Design, Development, Implementation, Operations and Maintenance of PAN systems at I-T department and at present, it appears to have limited or minimal impact on our ongoing PAN processing and issuance services under the existing mandate with the tax dept," Protean added. Brokerage house Equirus Securities downgraded the stock to sell from add, slashing its price target to ₹ 900 for March 2026—21 percent below Monday's closing price. The firm said the failure to secure the PAN 2.0 contract poses a significant risk to Protean's topline, as PAN services currently account for around 50 percent of revenue. 'This is a material negative,' the brokerage said. 'While FY26 impact may be muted, we expect a 75-100 percent collapse in this revenue stream over the next 2-3 years.' Anand Rathi, however, offered a more tempered view. While it acknowledged the development as sentimentally negative, it highlighted that Protean's core PAN operations remain unaffected and the financial impact may be limited in the near-term. The company counts some prominent investors among its public shareholders. Veteran investor Ramesh Damani held a 1.05 percent stake at the end of the March 2025 quarter, while Ajay Aggarwal owned 1.12 percent. Though the company does not have a promoter group, several state-owned and private banks are key stakeholders. These include Canara Bank (1.23%), Bank of Baroda (1.54%), Punjab National Bank (2.25%), Axis Bank (3.18%) and State Bank of India (4.93%). Despite the company's attempt to assuage concerns, the market reacted with steep selling. The stock extended its decline on Tuesday, plunging as much as 14.12 percent to hit an intra-day low of ₹ 981.55. This followed a steep 20 percent drop in the previous trading session, bringing the total loss to over 31 percent across just two sessions. At current levels, the stock is trading nearly 56 percent below its 52-week high of ₹ 2,225.00, which it had touched in August 2024. It now hovers just 5.5 percent above its 52-week low of ₹ 930.00, recorded in June 2024. Over the past one year, the stock has declined more than 4 percent. On a monthly basis, it has shed close to 20 percent in May alone, after a 2.4 percent dip in April. In March, it posted a modest gain of 1.7 percent. However, that was preceded by a 13 percent fall in February and a sharper 21.5 percent correction in January. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
