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    Protean Tech: A unique play on rising digital wave at red-hot valuation

    Protean’s dominant market position in the e-governance space, unique business moats, and tailwinds from growing digital penetration are positives

    Neha Dave
    March 18, 2024 / 04:32 PM IST
    Protean Tech: A unique play on rising digital wave at red-hot valuation

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    The stock of Protean eGov Technologies (CMP: Rs 1,010; M Cap: Rs 4,086 crore; Rating: Overweight) has nosedived almost 40 percent from its all-time high of Rs 1,700.

    The fall started after the company posted a tepid performance in Q3FY24 and aggravated later amidst 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.

    We advise investors to utilise this correction as

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