PROTEAN EGOV TECHNOLOGIES SHARES
Protean eGov Technologies shares crack 10% as NSE Investments plans to offload 20% stake via OFS
Protean eGov Technologies shares are in focus as NSE Investments plans to offload up to 20.31% stake via an offer for sale (OFS) with a floor price of Rs 1,550 per share.
Stocks in news: Adani Enterprises, Adani Green, JSW Energy, Afcons Infra, Tata Power
Shares of Adani Enterprises, Adani Green and few other group stocks will be in focus following a sharp 20% fall on Thursday due to US indictment against Gautam Adani.
NSE Investments to offload 20% stake in Protean eGov via OFS, sets floor price at Rs 1,550/share
NSE Investments will sell up to 20.31% stake in Protean eGov Technologies via an OFS. The floor price is set at Rs 1,550. The OFS will open for non-retail investors on Friday and for retail investors on Monday. NSE Investments is a wholly-owned subsidiary of NSE.
For medium-term investors: Even in times of correction, ignoring mid-caps is not an option; being selective was, is, and will remain a necessity
Fifteen years back, a company from a large industrial house raised money by floating corporate bonds at X% interest. A mid-size company raised money at X% plus 200 basis points. It was thus paying 2% more for the capital, putting it at a disadvantage. Today, that large company is raising money at X% ¨C but so is the mid-sized company. The reason: Capital is now more easily available, and the company has also improved its balance sheet. For all mid-caps it is the cost of capital that is key. Now, whether the Nifty moves up or down, the trajectory of interest rates is surely headed south this month.
India hosts fewer than 10 micro data centres: paper
OCC is an open interface for providers and customers of computing infrastructure, and a network of interoperable micro data centres in the country. According to this model, India needs 10,000 micro data centres to build its compute power.
Firms scramble to build consortiums to be eligible for Rs 10,000-crore GPU plan
Small and medium companies are racing to form partnerships with peers and cloud service providers to become eligible for the massive Rs 10,000 crore graphics processing units (GPUs) tender by the government. As per the GPU procurement tender, central to India¡¯s Artificial Intelligence Mission, the bidder must have installed or placed a purchase order for a minimum 1,000 GPUs.
Today's MSCI index rejig can bring $5.5 billion to D-Street
"MSCI's August 2024 review changes for its standard and small-cap indices will be implemented on Friday, likely leading to $5.5 billion in net inflows," said Sriram Velayudhan, head of alternative research at IIFL. "This includes adjustments to country weightings, with India expected to gain substantially post-rebalancing."
Inclusion of 7 stocks in MSCI indices could draw $3 billion
India saw an influx of up to $3 billion in August due to MSCI's adjustments to its indices. HDFC Bank's weight was increased, and restrictions on Adani Group stocks were lifted. Seven cos joined the global standard index, boosting India's weight in the emerging markets index to 20%.
Standard Chartered Bank exits Protean eGov Tech; sells 3.09 pc stake for Rs 225 crore
The shares were disposed of at an average price of Rs 1,799.79 apiece, taking the deal value to Rs 224.97 crore.At the end of the June quarter, London-based Standard Chartered Bank owned a 3.09 per cent stake in Protean eGov Technologies, shareholding data showed with the bourse
Stocks in news: LIC, RVNL, BSE, Hindalco, Tata Motors, Eicher Motors
The domestic markets rebounded on Tuesday, gaining over a percent owing to robust global cues. Stocks such as LIC, Eicher Motors, RVNL, and Tata Motors were highlighted due to quarterly results and corporate developments. Key financial outcomes were reported by BSE, NHPC, and Apollo Tyres. Moody's upgraded Tata Motors' rating, keeping a positive outlook.
Protean eGov Technologies shares surge 11% as budget proposes digitization of land records
The announcement highlighted the government's plans for the digitization of land records, both in urban and rural areas, as a part of a broader strategy to enhance economic efficiency and transparency. The Finance Minister announced plans for the digitalization of both urban and rural land records. States will be incentivized to implement land-related reforms and actions over the next three years through appropriate fiscal support.
Cashfree Payments appoints Abhaya Hota as independent director
Abhaya Hota has previously served as an Independent Director at Federal Bank, NSE Clearing, Protean e-Gov Technologies and RBI Innovation Hub. Cashfree Payments plans to leverage Hota's experience and expertise to develop innovative products and services.
Stocks in news: Apollo Tyres, Protean e-Gov Tech, Sun Pharma, Nykaa, Paytm
Warburg Pincus arm White Iris Investment will likely offload 3.5% stake in Apollo Tyres through block deals, according to reports.
HDFC Bank exits Protean eGov Technologies; sells entire stake for Rs 150 crore
HDFC Bank sold 3.20% stake in Protean eGov Technologies. According to the bulk deal data available with the BSE, HDFC Bank sold 12,94,326 shares. The shares were offloaded at an average price of Rs 1,160.15 apiece
Online PAN verification: You may not be able to invest in post office schemes if there is a mismatch in PAN details
Do note that from April 1, 2023, it is mandatory to provide PAN and Aadhaar details to invest in post office schemes. In case of any discrepancy, you may not be able to invest in these schemes.
Top companies back move to set up open cloud compute network
People+ai, an initiative by EkStep Foundation co-founded by Nandan Nilekani, set out last year to address increasing compute demand in the country, which is increasing with AI.
Stocks in news: LIC, SBI Cards, Bharti Airtel, Zomato, Vodafone Idea
The Board of SBI Cards has declared an interim dividend of Rs 2.5 per share for the financial year ending 2023-24. The company has also fixed a record date of March 28 for the proposed dividend.
Protean eGov Technologies makes a flattish debut. Should you exit or hold?
The stock listed at Rs 792, which is the same as issue price. However, there was some buying interest in the counter post the listing as stock rose about 12% intraday.
Protean eGov Technologies shares list at IPO issue price of Rs 792 per share
Analysts said the upside from current levels looks limited based on valuation as the issue was fully priced in discounting all near-term triggers. "Given that the company is a pioneer and market leader in its universe of e-Governance, there can be some kind of first mover advantage, but the upside is limited post listing" said Prashant Tapse of Mehta Equities.
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