Protean eGov Technologies Ltd. received a work order worth Rs 161 crore from the Central Registry of Securitisation Asset Reconstruction and Security Interest of India on Monday.
The company will provide services as system integrator for design, development, implementation, and operations and maintenance of the Central KYC Records Registry, according to an exchange filing.
The time period is 69 months from the date of execution of the contract, the technology firm said.
On Nov. 25, NSE Investments sold approximately 41.2 lakh shares with a face value of Rs 10 or a 10.16% stake in the company, with a green-shoe option of another 41.2 lakh shares for offer. The promoter company held a 20.31% stake in Protean as of Sept. 30, according to the data on the BSE.
In August, Standard Chartered Bank had exited Protean after it sold a 3,09% stake for Rs 225 crore. The bank sold 12.5 lakh shares at an average price of Rs 1,799.79 apiece.
Shares of Protean rose as much 1.05% during the day to Rs 1,793.75 apiece on the BSE. The stock closed 0.90% lower at Rs 1,759.15 per share, compared to a 0.56% advance in the benchmark Sensex. The share price has risen 49.65% in the last 12 months and 46.60% on a year-to-date basis.
Three out of the four analysts tracking the company have a 'buy' rating on the stock, while one maintains a 'hold', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 18.6%.
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