eMudhra share price movement

Shares of eMudhra, a digital trust, digital security and paperless transformation solution provider, were locked in the 20 per cent upper circuit at ₹593.60 on the BSE in Tuesday’s intraday session amid heavy volumes in otherwise a weak market. In comparison, the BSE Sensex was down 0.34 per cent at 74,524 at 01:16 PM.

The average trading volumes rose multifold as a combined 1.7 million equity shares, representing 2 per cent of total equity of eMudra, changed hands on the NSE and BSE combined. There were pending buy orders for 170,000 equity shares on the bourses.

With today’s rally, the market price of eMudra recovered 62 per cent from its 52-week low of ₹365.75 on March 30, 2026. The stock had hit a 52-week high of ₹721 on September 19, 2025.

What’s driving eMudra stock price?

eMudhra is a global organization aimed at empowering secure digital transformation by offering trust services and developing solutions around identity, authentication, and digital signatures. eMudhra is a global trust service provider and the largest certifying authority in India, having managed over 60mn digital identities. eMudhra is a Board Member of the Cloud Signature Consortium, Chair of the Asia PKI Consortium, and a principal member of the CA/Browser Forum.

It has a strong marquee client list, including Fortune 100 clients, and over 1,000 large enterprises who use its products and solutions for their secure digital transformation initiatives.

The Global Legal Entity Identifier Foundation (GLEIF) on September 13, 2026, announced eMudhra’s appointment as a validation agent of Legal Entity Identifier India Limited (LEIL) in the Global LEI System, enabling this integration.

eMudhra will work as a validation agent of LEIL, a GLEIF-accredited LEI Issuer and wholly-owned subsidiary of the Clearing Corporation of India Limited (CCIL). LEIL is currently the only LEI Issuer recognised by the Reserve Bank of India (RBI) in India under the Payment and Settlement Systems Act. 

The arrangement will enable eMudhra to incorporate LEI application and renewal services into established identity verification and onboarding processes, reducing the need for organizations to complete separate checks across different services. LEIL will ensure issuance and maintenance of LEI records in accordance with Global LEI System requirements, the company said.

eMudhra, while announcing June 2026 quarter (Q1FY27) results, said that India's Digital Personal Data Protection (DPDP) Act is adding a further layer of relevance to the company’s products. 

The DPDP Rules were notified in November 2025; the Consent Manager framework under the rules is due to become operational in November 2026, and full substantive compliance — covering notice, consent, security safeguards, breach reporting and data-principal rights — is required by May 2027. 

This gives Indian enterprises a defined, fairly tight runway to put consent and data-governance mechanisms in place. The management sees this timeline as validating the timely development of PrivaTrust, a data-privacy platform, which they believe is well placed to help organisations work toward these requirements within the stipulated timelines rather than in a last-minute scramble.

Meanwhile, eMudhra’s increasing geographic diversification, with international revenues accounting for 64 per cent of its total revenues in FY2026, further supports its growth profile, aided by expanded presence across North America, Europe, West Asia, Africa and Southeast Asia. Going forward, eMudhra is expected to sustain its growth momentum, supported by increasing share of product-led revenues, healthy traction in its enterprise offerings (particularly Certinext), and continued investments in emerging cybersecurity solutions such as Post Quantum Cryptography (PQC) and Data Privacy Stack, according to ICRA.

The company’s revenue visibility remains supported by healthy demand across BFSI, Government and enterprise clients, along with ongoing traction across multiple geographies. Its growth momentum has remained strong over the past two fiscal years, reflected by 39 per cent and 35 per cent year-on-year (YoY) growth in FY2025 and FY2026, respectively. This has been supported by new product rollouts, expansion of the base business in existing geographies, increased penetration into new markets and inorganic growth, the rating agency said.

Going forward, growth is expected to be driven by continued traction in enterprise solutions, product enhancements, increasing international presence and synergy benefits from recent acquisitions, while its financial profile is likely to remain supported by healthy cash generation and limited debt requirements, ICRA added.

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