Ramesh Damani-owned Protean shares crash 20%. Here's what went wrong in the weekend

Protean eGov Technologies' shares plummeted 20% after the Income Tax Department didn't select them for its PAN systems revamp project. Despite this setback, the company believes it will have minimal impact on their existing PAN processing services. The stock has erased its gains from the past year, even with notable investors like Ramesh Damani holding stakes.