Protean on a buzz

Protean eGov is the big top gainer on the BSE since the opening bell today morning; the stock, from its close of Rs.818.20, opened much higher today at Rs.870.05 and rose to an intraday high at Rs.918.50, a jump of almost 12.5%; it has come off that high and is now trading at Rs.883 range.

The stock surged on its announced of having received an order worth Rs.1600 crore from UIDAI as a service provider to establish and operate these district-level Aadhaar Seva Kendras (ASKs).

The company works with the Govt, all its orders are from the Govt for digital projects and services including, building and managing India’s Tax Information Network for the Income Tax Department. It also handles PAN card issuance and related services.

It has partnered with UIDAI for Aadhaar based authentication services on national level. It is also the Central Recordkeeping Agency for the National Pension System and manages Atal Pension Yojana.

This entails setting up physical centers, IT systems, biometric devices, connectivity. It also involves running day-to-day Aadhaar services, training staff, ensuring compliance. The company will also integrate UIDAI’s central systems with the ASK network and ensure seamless Aadhaar enrollment, updates (address, biometrics, mobile/email), and e-Aadhaar support for citizens.

Earlier known as NSDL e-Governance Infrastructure, it does not have a “single founder” in the way startups do. Promoter holding is nil.

It was incorporated in 1995–96 as part of the National Securities Depository Ltd. (NSDL) group to provide large-scale digital infrastructure for government services. It was rebranded as Protean eGov Technologies to reflect its broader role beyond just NSDL. It went public in Nov’23 and was priced at Rs.752.