eMudhra shares tumbled 34% over three consecutive sessions, closing Thursday at ₹368.35 after a 13% intraday decline.
Wednesday’s 20% plunge followed the Indian Computer Emergency Response Team’s urgent advisory on a private‑key compromise affecting eight Certificate Authority certificates; the stock has slid 42% in the last month and 33% year‑to‑date.
Kaushik Srinivasan told CNBC‑TV18 that the incident is a one‑off script error, affecting only 1% of global revenue and leaving digital‑enterprise earnings untouched. The shares hover just ₹3.80 above the 52‑week low of ₹364.55.
The Ministry of Electronics and Information Technology dispatched a special probe team and visited eMudhra’s premises. Officials noted that the affected business operates under an international framework, not overseen by MeitY, and that digital‑signature services remain fully compliant.
No new guidance has been issued; analysts warn that volatility may persist until the probe concludes. Investors will watch for any regulatory findings that could further dent the stock, which is already trading well below its recent highs.