325 per cent returns: Multibagger small-cap stock jumps 10 per cent as it receives order worth Rs 34.64 crore and announces stellar results!
The stock gave multibagger returns of 105 per cent on YTD basis and over 325 per cent returns in just 3 years.
Newgen Software Technologies Ltd informed that the company has received a purchase order for the implementation of end-to-end trade finance including a customer web portal & supply chain finance solution. The aggregate value of the aforesaid purchase order is Rs 43.64 crore plus applicable taxes. The order is valid for 5 years from the date of going live.
Additionally, the company announced its Quarterly Results. The net sales increased by 33.94 per cent to Rs 251.67 crore, operating profit increased by 51.75 per cent to Rs 44.63 crore and net profit increased by 57.24 per cent to Rs 30.15 crore in Q1FY24 over Q1FY23. In FY23, the net sales increased by 25.04 per cent to Rs 973.98 crore and net profit increased by 7.34 per cent to Rs 176.27 crore compared to FY22. In the financial year, 2022-2023, the company gave an interim dividend of Rs 4.50 per share and a final dividend of Rs 5 per share for its equity shareholders for a face value of Rs 10 each.
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. As of June 2023, an ace investor, Mukul Agarwal owns a 1.14 per cent stake in the company.
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On Wednesday, shares of Newgen Software Technologies jumped 10.82 per cent to make a new 52-week high of Rs 757.20 per share from its previous closing of Rs 682.70. At the closing bell, shares of the company were trading at Rs 718.60 per share, up 5.26 per cent with a spurt in volume by more than 10.89 times on BSE.
The stock gave multibagger returns of 105 per cent on YTD basis and over 325 per cent returns in just 3 years. Investors should keep an eye on this Small-Cap IT stock under their watchlist.
Disclaimer: The article is for informational purposes only and not investment advice.