1:1 Bonus Share & Rs 1,500 Crore Order Book: Multibagger IT-Software Company Bags Order Worth Rs 32,44,67,835 From Reserve Bank of India
The stock gave multibagger returns of 560 per cent in 2 years and a whopping 1,130 per cent in 5 years.
On Friday, shares of Newgen Software Technologies Ltd gained 4.81 per cent to an intraday high of Rs 1,185 per share from its previous closing of Rs 1,130.65 per share. The stock’s 52-week high is Rs 1,547.20 per share and its 52-week low is Rs 626.05 per share.
Newgen Software Technologies Limited has secured a significant contract from the Reserve Bank of India (RBI) to implement and maintain the Regulatory Application Management System (RAMS). The contract, valued at Rs 32,44,67,835 (inclusive of 18 per cent GST), is a domestic order and is expected to be executed for 7 years. This substantial win underscores Newgen's strong position in the digital transformation of regulatory processes and its ability to deliver innovative solutions to critical national institutions.
Earlier, Newgen Software Inc. secured a USD 15,24,806 contract for an Enterprise Content Management Solution and its Saudi subsidiary received a USD 15,00,000 purchase order. Additionally, the company received a Rs 16,92,00,000 Letter of Intent and a significant domestic purchase order worth Rs 24,99,95,600, showcasing its strong market position and commitment to innovative solutions.
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About the Company
Newgen Software Technologies is a global software Company engaged in 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 capitalisation exceeding Rs 16,000 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 of over Rs 1,500 crore, further solidifies its position in the market. The stock gave multibagger returns of 560 per cent in 2 years and a whopping 1,130 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.