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eMudhra Exits Global SSL/TLS Business as Shares Plunge
Sentiment: NegativeHigh Priority
What Happened?
eMudhra's shares fell 20% after the company announced its exit from the global SSL/TLS certificate business due to a recent security incident. The decision follows a review of the business's commercial prospects.
Key points
- eMudhra's shares dropped 36% to Rs 345 since the incident.
- The company contributes about 1% of its revenue from the global SSL/TLS business.
- The board decided to exit after reviewing scrutiny and commercial viability.
- The decision was influenced by rising compliance costs and competition from free certificate providers.
- The issue was flagged by a Mozilla cryptography team member on October 17.
Key insights
- Investors may reassess their confidence in eMudhra's future profitability.
- The decision to exit could lead to a strategic focus on more profitable enterprise solutions.
- Increased scrutiny may affect eMudhra's reputation in the digital trust sector.
Why it matters
The exit could impact eMudhra's revenue diversification strategy.
Entities
eMudhra· CompanyBSE· LocationMozilla· Organization
Source
Times of India
