The stock of Protean eGov Technologies has nosedived more than 35% from its all-time high price of Rs 1700. The fall in stock price started after the company posted a tepid performance in Q3 FY24 and later got aggravated amid the meltdown in mid and small cap stocks. Following the price correction, Protean is now trading at an attractive valuation of 27 times FY25 estimated earnings.
This correction provides an opportunity to accumulate the stock for long term. And the moderation in valuation is not the only reason for our optimism. Protean’s dominant market position in e-governance space, unique business moats and tailwinds from growing digital penetrations makes us positive on the stock.
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Негізгі бет Protean eGov Technologies | Instrumental In Establishing Digital Public Infra | Stock Of The Day
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