Protean eGov shares crash 20%. 3 reasons why – Market News
The share price of Protean eGov Technologies slammed into the 20% lower circuit today, May 19, locking out sellers. The sharp decline in the share price of the company came after its announcement over the weekend that it failed to advance to the next round of the Income Tax Department’s high‑profile PAN 2.0 tender.
What is PAN 2.0 and why it matters
The Income Tax Department wants to overhaul the technology backbone for issuing and managing PAN and TAN cards. With a budget of roughly Rs 1,440 crore, the PAN 2.0 project covers design, development, implementation, operations, and long‑term maintenance. Landing the mandate would have cemented Protean’s place at the centre of India’s tax‑tech landscape…
