Share price of a company, previously known as NSDL e-Governance Infrastructure Ltd., moved up by nearly 1.98 percent to Rs. 1,289 in the morning trading session of Monday, after the company received a work order on January 25.
With a market cap of Rs. 5,169 crore, shares of Protean eGov Technologies Ltd. opened at Rs. 1,270 on Monday from its previous close of Rs. 1,263.95. The company has delivered a positive return of more than 45.4 percent in the last one year, whereas, around 1.8 percent returns, so far in 2024.
According to the recent filings on the BSE, Protean eGov Technologies Limited has received a Work Order from the Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI), a Government of India Undertaking.
This work order is for providing services as a “System Integrator for Implementation & Maintenance of Central Banning of Unregulated Deposit Schemes (BUDS) Registry Solution” for the amount of approximately Rs. 16 crore.
The time period for the execution of the contract is 69 months and none of the promoter or promoter group or group companies have any interest in the entity that awarded the order.
In terms of financials, the company’s revenue from operations grew by 6.81 percent from Rs. 220 crores in the June 2023 quarter to Rs. 235 crore in the September 2023 quarter, accompanied by an increase in net profit by 3.03
percent from Rs. 33 crore in the June 2023 quarter to Rs. 34 crore in the September 2023 quarter.
As of December 2023, FIIs hold 10.64 percent of the shares, whereas DIIs hold 51.04 percent of the shares in the company, aggregating to 61.68 percent of the institutional holdings.
Originally set up as a depository in 1995, NSDL e-Governance Infrastructure Ltd. got rebranded as Protean eGov Technologies Limited and is a leading Public Limited Indian Non-Government Company.
The company partners with the government to create digital public infrastructure and develop citizen-centric and population-scale e-governance solutions.
It provides IT services and offers citizen services, e-governance solutions, system integration, business process re-engineering, data centre co-location, and IT consulting services for citizens, corporates and the Government.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
