The share of PAN card making company broke 30%: came at ₹ 1,048 in two days; Tax department did not choose it for PAN 2.0 project

Mumbai45 minutes ago

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The Protian, established in 1995, was earlier known as NSDL E-Governance Infrastructure Limited.

Shares of Protian E-Governance Technologies, a PAN card-processing company, have fallen by about 30% in two days. The Income Tax Department has not selected the Protion for the PAN 2.0 project, due to which its shares have declined.

Today, i.e. on May 20, the stock’s shares are trading about 9% to Rs 1,048. A day earlier, on May 19, its shares were lower circuit. It fell 20% to close at Rs 1143.

PAN 2.0 project bids were called, protective not chosen

The tax department had to choose the design, development, implementation, operations and managed service provider (MSP) for its PAN 2.0 project.

For this, he had issued bids by issuing RFP notice, ie RFP notice. The protective also joined the dialect, but was not selected.

Protian bid- not immediate effect on its business

The company said in the filing, “We have been told by the Income Tax Department that our name has not been considered for the next round of RFP selection process.” In our understanding, this is a project of technology improvement, including the design, development, implementation, operations and mentality of the PAN system.

On May 19, in a conference call, the management of the protective said that our business will not have any immediate effect. PAN 2.0 is not related to business processing and distribution parts, which currently includes the company.

Protian was known as NSDL e-governance

The Protian, established in 1995, was earlier known as NSDL E-Governance Infrastructure Limited. It is a leading company in Digital Public Infrastructure (DPI) and e-governance solutions in India. It provides technical services for social security programs like PAN, National Pension Scheme, and Atal Pension Yojana.

In addition, it works in areas such as digital identity, financial inclusion, and ONDC (Open Network for Digital Commerce).

The new PAN card will have QR code

PAN 2.0 is the latest project for the Digital E-PAN card of the Income Tax Department. The new PAN card will have the QR code to avoid better security and fraud. Existing PAN cardholders do not have to apply for this. However, if they want a new card, they can apply for it.

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