Mumbai: Shares of digital certificate and cybersecurity services provider eMudhra continued their sharp decline on Thursday, October 22, falling 16.22 per cent to Rs 361.95 on the NSE at 12:04 pm.
The stock lost Rs 70.05 from its previous closing price of Rs 432. The latest decline follows Wednesday's 20 per cent lower circuit, taking the cumulative fall to approximately 33 per cent in two trading sessions.
How Much Has eMudhra Stock Fallen?
On October 21, eMudhra shares plunged 20 per cent from Rs 540 to Rs 432, hitting the lower circuit.
Selling continued on Thursday, with shares opening at Rs 385, touching an intraday high of Rs 404.90 and falling to Rs 346.
The stock subsequently traded at Rs 361.95, reflecting continued investor concerns.
What Triggered The Crash?
The selloff followed revelations involving eight intermediate certificates used in eMudhra's global TLS business.
The company disclosed weaknesses in private keys generated during an April 2025 security procedure.
These keys help verify website identities and secure online communications. Weak keys could potentially allow attackers to create fraudulent certificates and impersonate legitimate websites.
What Action Has The Government Taken?
India's cybersecurity agency CERT-In issued an advisory warning about potential website impersonation risks.
The Ministry of Electronics and Information Technology also formed a special investigation team to examine the incident.
Major technology companies, including Google, Mozilla, Apple and Microsoft, have taken steps to block affected certificates.
What Has eMudhra Clarified?
The company maintained that no genuine website certificates were issued using the affected intermediate certificates.
It also stated that its core infrastructure was not compromised and its Indian digital signature certificate and eSign businesses remain unaffected.
What Should Investors Watch?
Investors remain concerned about reputational damage, regulatory scrutiny and potential business disruptions.
The investigation's findings, corrective security measures and future company disclosures will remain crucial for determining whether investor confidence recovers.
