Protean egov share low: A news came from the Income Tax Department that the Income Tax Department has not named Protean Egov Tehnologies in its PAN 2.0, after which there has been a tremendous decline in the stock of this company. On Tuesday i.e. May 20, the business started and its stock slipped to the level of Rs 995. This is the lowest level during the last 52 weeks i.e. one year. A day earlier, on Monday, the stock had a lower circuit of 20 percent.

At around 11.24 am, Protean Egov Technologies shares were trading at 1,073.20 levels at Rs 70, or 6.12 percent, at 1,073.20. The management has been told by the company that its business is not going to be affected by the absence of this project.

Protein Egov Technology told that PAN 2.0 has no connection with the processing and distribution of the project and RFP is a long -term sto, so it is not going to have any effect on its financial situation.

Project came out of the company’s hand

In the information sent to the stock market on Sunday, the protein was told by the Egav that the proposal for the development, design, operation, maintenance and implementation of PAN 2.0 was issued by the Income Tax Department for the managed service provider. Also, a notice was also issued to order dialects. The company told in the regulatory filing that he had participated in the RFP dialect for that project.

Protein Egov Technology shares have seen a decline of about 15 percent during the last 12 months. The company said in its statement that this project is associated with technology improvement from their understanding, so it includes the design of PAN system, development and other things in the Income Tax Department.
The company further said that its impact on their service of issuing PAN processing under their current contract with income tax is very limited.

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