Latest news with #ProteaneGovTechnologies
Business Standard
3 days ago
- Business
- Business Standard
Protean eGov Technologies consolidated net profit rises 13.09% in the June 2025 quarter
Sales rise 7.28% to Rs 210.84 crore Net profit of Protean eGov Technologies rose 13.09% to Rs 23.85 crore in the quarter ended June 2025 as against Rs 21.09 crore during the previous quarter ended June 2024. Sales rose 7.28% to Rs 210.84 crore in the quarter ended June 2025 as against Rs 196.54 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 210.84196.54 7 OPM % 7.787.69 - PBDT 43.4133.87 28 PBT 32.3727.10 19 NP 23.8521.09 13
Economic Times
17-07-2025
- Business
- Economic Times
Protean eGov crashes 50% from peak.Should you hold or exit this Ramesh Damani stock?
Ramesh Damani-backed stock Protean eGov Technologies has plunged nearly 50% from its 52-week high to a fresh low, with the decline occurring over a relatively short span. Despite a recent technical bounce, analysts believe the stock's troubles are far from over and advise against taking fresh positions at this stage. ADVERTISEMENT On Monday, the stock hit a 52-week low of Rs 785 on the NSE, just five months after touching a high of Rs 1,535 on February 6 this year. Although the stock has posted gains of over 3% on a closing basis over the past two trading sessions, the rally is not strong enough to suggest a recovery. Market expert Drumil Vithlani believes Protean eGov Technologies continues to exhibit a weak structure, consistently forming lower highs and lower lows on the hourly chart. "In the previous sessions, the stock marked a fresh low near Rs 785, from which a technical bounce was observed. However, despite this rebound, the broader outlook remains negative as long as the stock stays below its 20 EMA," said the Technical Research Analyst at Bonanza."The RSI had slipped into oversold territory, which justified the short-term recovery seen today (Wednesday). Going forward, Rs 785 remains a key level to watch. A breakdown below this support could accelerate the decline toward Rs 760 and Rs 750, respectively," he warned, while recommending that traders remain cautious and avoid fresh long positions until a sustained move above short-term averages is confirmed. Also Read: Ace investor Mukul Agrawal trims stake in two smallcaps in June quarter. Here's how these stocks have performed ADVERTISEMENT Echoing a similar sentiment, Anuj Gupta, Director at Ya Wealth Global Research, said that Protean eGov is technically looking weak as prices are forming a lower top–lower bottom Gupta is not ruling out the possibility of short covering, given that the stock is in an oversold zone. "One can wait for some time before adding a position. Only if it trades and closes above Rs 900 levels can it trigger fresh buying. Strong support is seen at the Rs 780 level," the analyst said. ADVERTISEMENT Protean is an Indian technology company headquartered in Mumbai. It focuses on developing digital public infrastructure and e-governance initiatives for various governmental bodies in company reported a consolidated net profit of Rs 20 crore in the quarter ended March 31, marking a 6% year-on-year growth. Meanwhile, the topline stood at Rs 239 crore, reflecting a 1.5% increase over the corresponding quarter of the previous financial year. ADVERTISEMENT Also read: Ashish Kacholia-backed Balu Forge stalls after 720% IPO rally. Time to re-enter? Protean eGov Technologies stock received analysts downgrades after the company failed to get the government's PAN 2.0 called this a major setback for the company, attributing this factor to the sharp decline in the stock price. ADVERTISEMENT Following the development, Anand Rathi in May had released a note saying that PAN 2.0 rollout was unlikely to disrupt existing issuance in the near term. It had then recommended a 'Buy' rating on the stock for a price target of Rs 1,455. The share was then trading around Rs 1,004 and has witnessed a decline. (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)
Time of India
17-07-2025
- Business
- Time of India
Protean eGov crashes 50% from peak.Should you hold or exit this Ramesh Damani stock?
Live Events What led to the setback? (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Ramesh Damani-backed stock Protean eGov Technologies has plunged nearly 50% from its 52-week high to a fresh low, with the decline occurring over a relatively short span. Despite a recent technical bounce , analysts believe the stock's troubles are far from over and advise against taking fresh positions at this Monday, the stock hit a 52-week low of Rs 785 on the NSE , just five months after touching a high of Rs 1,535 on February 6 this the stock has posted gains of over 3% on a closing basis over the past two trading sessions, the rally is not strong enough to suggest a expert Drumil Vithlani believes Protean eGov Technologies continues to exhibit a weak structure, consistently forming lower highs and lower lows on the hourly chart. "In the previous sessions, the stock marked a fresh low near Rs 785, from which a technical bounce was observed. However, despite this rebound, the broader outlook remains negative as long as the stock stays below its 20 EMA," said the Technical Research Analyst at Bonanza."The RSI had slipped into oversold territory, which justified the short-term recovery seen today (Wednesday). Going forward, Rs 785 remains a key level to watch. A breakdown below this support could accelerate the decline toward Rs 760 and Rs 750, respectively," he warned, while recommending that traders remain cautious and avoid fresh long positions until a sustained move above short-term averages is a similar sentiment, Anuj Gupta, Director at Ya Wealth Global Research, said that Protean eGov is technically looking weak as prices are forming a lower top–lower bottom Gupta is not ruling out the possibility of short covering, given that the stock is in an oversold zone. "One can wait for some time before adding a position. Only if it trades and closes above Rs 900 levels can it trigger fresh buying. Strong support is seen at the Rs 780 level," the analyst is an Indian technology company headquartered in Mumbai. It focuses on developing digital public infrastructure and e-governance initiatives for various governmental bodies in company reported a consolidated net profit of Rs 20 crore in the quarter ended March 31, marking a 6% year-on-year growth. Meanwhile, the topline stood at Rs 239 crore, reflecting a 1.5% increase over the corresponding quarter of the previous financial year. Protean eGov Technologies stock received analysts downgrades after the company failed to get the government's PAN 2.0 called this a major setback for the company, attributing this factor to the sharp decline in the stock the development, Anand Rathi in May had released a note saying that PAN 2.0 rollout was unlikely to disrupt existing issuance in the near term. It had then recommended a 'Buy' rating on the stock for a price target of Rs 1,455. The share was then trading around Rs 1,004 and has witnessed a decline.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Business Standard
10-07-2025
- Business
- Business Standard
Orient Tech secures Rs 30-cr order from Protean eGov Technologies
Orient Technologies announced that it has received a purchase order worth Rs 29.86 crore from Protean eGov Technologies for the procurement, setup, and support of AWS infrastructure. According to an exchange filing, the company stated that the total estimated value of the engagement is approximately Rs 29.86 crore over a period of five years. This strategic order is expected to strengthen Orient Technologies' presence in the enterprise cloud solutions and managed services domain. Orient Technologies is an IT provider specializing in innovative cloud and data management solutions for the enterprise sector in India. The companys standalone net profit declined 5.1% to Rs 13.44 crore on a 44% surge in net sales to Rs 260.68 crore in Q4 FY25 over Q4 FY24. The scrip rose 0.41% to Rs 357.45 on the BSE
News18
10-06-2025
- 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:
