1:1 Bonus Share & Rs 1,560 Crore Order Book: Multibagger IT-Software Company Bags 3 Order In One Single Day Worth Approx Rs 42,27,39,240
The stock gave multibagger returns of 228 per cent from its 52-week low.
On Tuesday, shares of Newgen Software Technologies Ltd gained 2 per cent to an intraday high of Rs 1,370.70 per share from its previous closing of Rs 1,343.05. The stock’s 52-week high is Rs 1,547.20 and its 52-week low is Rs 432.28. The stock gave multibagger returns of 228 per cent from its 52-week low.
Company 3 Order In One Single Day Worth Approx Rs 42,25,88,000
Newgen Software Inc. (NSI), a subsidiary of Newgen Software Technologies Limited, has secured a contract worth USD 15,24,806 (approximately Rs 12,78,09,240*) for the provision and implementation of an Enterprise Content Management Solution. The contract is to be executed over a period of 5 years and is being awarded by an international entity.
Additionally, the Company's wholly-owned subsidiary in Saudi Arabia has received a purchase order valued at USD 15,00,000 (approximately Rs 12,57,30,000*). This international order is expected to be completed within 29 months.
Furthermore, Newgen Software Technologies Limited has received a Letter of Intent from a domestic entity for a contract worth Rs 16,92,00,000. This contract is to be executed over a period of 10 years.
*1 USD = 83.82 INR (As of September 30, 2024).
Earlier, the company secured a significant domestic purchase order valued at Rs 24,99,95,600. This substantial contract is expected to contribute substantially to the company's revenue and growth over the next five years. This latest development underscores Newgen's strong market position and ability to secure large-scale projects. It also highlights the company's commitment to delivering innovative software solutions that meet the evolving needs of its clients.
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About the Company
Newgen Software Technologies is a global software Company and is engaged in the business of software product development including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to Document management to imaging.
The shares of the company ex-traded bonus shares in the ratio 1:1 i.e., 1 new fully paid-up bonus equity share of Rs 10 each for every 1 existing fully paid-up equity share of Rs 10 each held by the members of the company as on the record date. The ex-date for the bonus issue of equity shares was Friday, January 12, 2024.
Newgen Software, with a market capitalization exceeding Rs 18,000 crore and a remarkable 3-year stock price CAGR of 71 per cent, has demonstrated consistent growth. The company's commitment to profitability is evident in its 19.6 per cent CAGR in profit growth over the past 5 years. Additionally, Newgen Software has maintained a healthy dividend payout of 21.4 per cent, showcasing its dedication to shareholder value. As of March 31, 2024, the company's robust order book stood at Rs 1,560 crore, further solidifying its position in the market. The stock gave multibagger returns of 200 per cent in 1 year and a whopping 900 per cent in 5 years. Investors should keep an eye on this small-cap IT stock.
Disclaimer: The article is for informational purposes only and not investment advice.