Protean eGov Technologies Ltd.'s share price jumped over 6% in Tuesday's session as the company has secured an order worth Rs 100 crore. The order is from Bima Sugam India Federation Ltd. and RPF to provide a technology solution, the company said in the exchange filing on Monday.
The technology solution is for designing, developing, implementing, supporting, and maintaining the Bima Sugam Digital Marketplace platform. This also includes platform integrations and marketplace protocols, the exchange filing said. The contract is for six years.
Protean eGov Technologies Ltd.'s share price rose 6.09% to Rs 1,009.3 apiece, the highest level since May 29. It pared gains to trade 4.25% higher at Rs 991.75 apiece as of 9:53 a.m., as compared to a 0.08% advance in the NSE Nifty 50 index.
The stock declined 32.47% in 12 months. Total traded volume so far in the day stood at 2.7 times its 30-day average. The relative strength index was at 36.60.
Out of six analysts tracking the company, three maintain a 'buy' rating, two recommend a 'hold', and one suggests to 'sell', according to Bloomberg data. The average 12-month consensus price target implies an upside/downside of 20.1%.
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