This company's stock rose 11% in the falling market, has received an order of Rs 1,160 crore from UIDAI

News Topical, Digital Desk : On Tuesday, August 26, shares of Protean eGov Technologies Ltd. rose by 11%. The company informed after the market closed on Monday that it has received an order of about Rs 1,160 crore from the Unique Identification Authority of India (UIDAI).

Under this contract, the company will be the official service provider for the establishment and operation of Aadhaar Seva Kendras (ASKs) in 188 districts across the country. At these centers, citizens will be able to get Aadhaar enrollment, update and other Aadhaar-related services through both appointment and walk-in methods.

What is the project? This contract will run for 6 years and has been designed as an outsourcing delivery of a public service project. UIDAI is constantly expanding its services to meet the growing demand related to Aadhaar in semi-urban and rural areas such as new enrollment, correction and update. The company clarified that this contract is not linked to any related-contract transaction and has been obtained through domestic channels. It is worth noting that in May this year, the shares of Protean eGov Technologies fell sharply when the company was out of the race for the Income Tax Department's PAN 2.0 project. This order was later received by LTIMindtree. At market close on Monday, shares of Protean eGov Technologies closed at ₹ 818.30, down 3.85% on the NSE.

Read More: This company's stock rose 11% in the falling market, has received an order of Rs 1,160 crore from UIDAI