52-week high alert: This multibagger IT company receives new order worth USD 1,333,000; PAT zooms by 57 per cent!

Shares of the company have gained about 100 per cent in the last six months.

Shares of Newgen Software Technologies Limited made a fresh 52-week high of Rs 915.00 on Friday, gaining about 3.54 per cent. The stock is on a rally since the company has received multiple orders from domestic as well as international markets.

On Friday, the company received an order from an international entity for the License Product and implementation services. The order is worth USD 1,333,000.

Furthermore, the company bagged an order worth Rs 8,66,00,000. The company entered into an engagement with a top-tier global management consulting firm to build a ‘Breakout Growth Strategy’ to support this aspiration across the key geographies.

In Q1FY24, the company reported a revenue of Rs 251.67 crore which grew by 33.94 per cent YoY. The operating profit of the company stood at Rs 44.63 crore, growing 51.75 per cent YoY while the PAT of the company grew by 57.24 per cent YoY staying at Rs 30.15 crore.

Newgen Software Technologies Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 370.80 on August 11, 2022, to Rs 909.35 on August 11, 2023, an increase of about 130 per cent in one year holding period.

Newgen Software Technologies is a software products company which offers a platform that enables organizations to rapidly develop powerful applications addressing their strategic business needs. The company recently completed 30 years. The applications created on its platform enable organizations to drive digital transformation and competitive differentiation.

Disclaimer: The article is for informational purposes only and not investment advice.