1:1 Bonus Share & Rs 1,560 Crore Order Book: Multibagger IT-Software Company Received New Order Worth Rs 24,99,95,600
The stock gave multibagger returns of 210 per cent in 1 year and a whopping 675 per cent in 2 years.
On Friday, one of the Top Gainers on BSE, shares of Newgen Software Technologies Ltd gained 6.20 per cent to an intraday high of Rs 1,418 per share from its previous closing of Rs 1,335.45. 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.
Newgen Software Technologies Limited has 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.
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.
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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 19,000 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 210 per cent in 1 year and a whopping 675 per cent in 2 years. Investors should keep an eye on this small-cap IT stock.
Disclaimer: The article is for informational purposes only and not investment advice.