Protean eGov Technologies sees 5% decline in stock price, outperforms market in past month

Protean eGov Technologies, a midcap IT software company, saw a decline of 5.0% in its stock price on September 2nd, 2024. This drop was in line with the overall performance of the IT sector, as the company underperformed the sector by 5.64%. The stock has also seen a trend reversal, falling after three consecutive days of gains.

On the day of the decline, Protean eGov's stock touched an intraday low of Rs 2059.05, a decrease of 5.99%. However, the company's stock is still trading higher than its 5-day, 20-day, 50-day, 100-day, and 200-day moving averages, indicating a positive trend in the long term.

In comparison to the overall market performance, Protean eGov's stock saw a decline of 5.45% while the Sensex saw a slight increase of 0.15%. However, in the past month, the company's stock has outperformed the Sensex with a 5.31% increase compared to the Sensex's 1.86% increase.

MarketsMOJO has given a 'Hold' call for Protean eGov's stock, indicating a neutral stance on the company's performance. As a midcap IT software company, Protean eGov continues to navigate the ever-changing technology landscape and remains a key player in the industry.