1:1 Bonus Share & Rs 1,500 Crore Order Book: Multibagger IT Stock In Green After Bagging International Order Worth USD 22,66,667
The stock gave multibagger returns of 815 per cent in 2 years and a whopping 1,525 per cent in 5 years.
On Tuesday, shares of Newgen Software Technologies Ltd gained 0.67 per cent to Rs 1,597.50 per share from its previous closing of Rs 1,586.80 per share. The stock’s 52-week high is Rs 1,627.40 per share and its 52-week low is Rs 626.05 per share.
Newgen Software Technologies Limited's wholly-owned subsidiary in Saudi Arabia has received and accepted a Purchase Order valued at USD 22,66,667. This international order is expected to be executed within one year, as per Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Earlier, Newgen Software secured a significant contract with the Reserve Bank of India (RBI) for the implementation and maintenance of the Regulatory Application Management System (RAMS). This domestic order, valued at Rs 32,44,67,835, will be executed over 7 years. This win, alongside earlier successes like a USD 15,24,806 contract and a USD 15,00,000 purchase order, demonstrates Newgen's strong market position and commitment to providing innovative solutions for enterprise content management and digital transformation across both domestic and international markets.
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.
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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 capitalisation exceeding Rs 22,000 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 815 per cent in 2 years and a whopping 1,525 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.