Protean eGov Soars Over 4% After Bagging ₹100 Cr Bima Sugam Tech Deal
By HDFC SKY | Published at: Jun 10, 2025 05:40 PM IST
Mumbai, June 10, 2025: Shares of Protean eGov Technologies Ltd (NSE: PROTEAN | BSE: 544021) spiked sharply by 4.18% in Tuesday’s early trade after the company secured a major ₹100 crore contract from the Bima Sugam India Federation (BSIF).
The stock jumped ₹39.75 to hit ₹991.10 on the BSE as of 09:32 IST. It had opened higher at ₹995.00 and surged to an intraday high of ₹1,009.30, before paring some gains. The upswing marks a strong bounce from its recent 52-week low of ₹943.75, touched just four days ago on June 6.
Further, shares of Protean eGov Technologies Ltd traded at ₹985.00, up ₹33.65 (3.54%) by 12:20 PM IST on June 10. The stock opened at ₹995.00, touched a high of ₹1,009.30, and dipped to a low of ₹981.05. Market capitalisation stood at ₹3.99K crore, with a P/E ratio of 43.49. The stock rallied after the company secured a ₹100 crore contract from Bima Sugam India Federation, sparking positive investor sentiment.
| Metric | Value |
|---|---|
| Current Price | ₹991.10 |
| Previous Close | ₹951.35 |
| Intraday High | ₹1,009.30 |
| Intraday Low | ₹984.20 |
| VWAP | ₹996.51 |
| Traded Volume (Lakhs) | 6.32 |
| Traded Value (₹ Cr.) | ₹63.03 |
| Market Cap (₹ Cr.) | ₹4,018.74 |
| Free Float Market Cap (₹ Cr.) | ₹3,983.17 |
| 52-Week High (Feb 6, 2025) | ₹1,535.00 |
| 52-Week Low (Jun 6, 2025) | ₹943.75 |
₹100 Cr Bima Sugam Contract Boosts Sentiment
The rally comes after Protean announced that it has secured a strategic ₹100 crore contract from the Bima Sugam India Federation (BSIF)—a not-for-profit organisation backed by key players in the Indian insurance sector.
As part of the deal, Protean eGov will act as the Technology Solution Provider for 72 months (6 years), delivering end-to-end development, integration, implementation, maintenance, and support for the Bima Sugam digital insurance marketplace. The company was selected through a competitive RFP (Request for Proposal) process.
In an exchange filing, the company said, “This engagement further strengthens Protean’s role as a trusted technology partner in India’s Digital Public Infrastructure (DPI) journey.”
Contract Details
| Particular | Details |
|---|---|
| Awarding Entity | Bima Sugam India Federation (BSIF) |
| Contract Value | ₹100 Crore (approx.) |
| Scope | Development, integration, and support of Bima Sugam digital platform |
| Tenure | 72 months (6 years) |
| Nature of Contract | Domestic technology solution provider |
| Related Party Involvement | None |
Strong Financials in Q4 FY25
Protean eGov Technologies also posted a healthy performance for the quarter ended March 2025, reinforcing investor confidence.
| Particulars | Value (₹ Cr.) |
|---|---|
| Total Income | 23,897.00 |
| Profit Before Tax | 2,589.00 |
| Net Profit | 2,105.00 |
| Earnings Per Share | ₹5.20 |
About Protean eGov Technologies Ltd
Listed on February 6, 2025, Protean eGov Technologies Ltd is a key player in India’s digital infrastructure ecosystem. The company delivers IT-enabled services supporting mission-critical public platforms. With a P/E ratio of 189.10, it continues to play a central role in advancing India’s fintech and digital governance frameworks.
REF: https://www.nseindia.com/get-quotes/equity?symbol=PROTEAN
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