Bonus Issue In Nov: IT Software Stock Hits 5% Lower Circuit, Jumps 284% In 1 Year

The share price of Software company Newgen Software Technologies Ltd will remain in focus this week as the mid-cap stock will consider and recommend a proposal for the declaration of bonus shares to the Equity Shareholders of the Company next week on November 27, 2023. At the time of filing this story, Newgen Software shares are trading at Rs 1299.95 per share with an intraday loss of 2.01% as of November 22, 2023.

Newgen Software shares offered 283.75% return year-to-date and gained 258.90% in last 1-year. Today, the stock hit 5% lower circuit. A lower circuit in stock trading is a method used by stock exchanges to deter a stock's price from dropping beyond a certain percentage limit in an intraday trade. This limit, based on the last day's closing price intends to curb panic selling and maintain stability in the market.

Check Important Details Below:

Newgen Software To Consider Bonus Share On Nov 27: In a BSE filing on November 17, 2023, the company said, "Pursuant to the provisions of Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 27th November 2023, inter alia, to consider and recommend a proposal for Declaration of Bonus Shares to the Equity Shareholders of the Company, subject to the approval of shareholders."

Newgen Software Stock Performance & Return: The stock's 52-week high price is Rs 1,369.90 per share and 52-week low price is Rs 329.00 per share, respectively. The company has a market capitalization of Rs 9,038.95 crore. Newgen Software shares soared 34.29% in the last 3 months, rose 258.90% YTD, surged 131.29 % in last 2 years, and offered a return of 376.26% in last 3-years. In last 5-years, Newgen Software stock jumped 303.02%.

Newgen Software Technologies Q2 Results: The company for the quarter under consideration reported a rise of 29.7% in its revenue from operations to Rs 293 crore as compared to Rs 226 crore in the year-ago financial year. Its EBITDA surged 59.3% YoY to Rs 57.2 crore. The company's margins bettered 290 basis points to 19.5%. "Upon the sanction becoming effective from the appointed date i.e. 01.04.2022 as provided under the Scheme, NTSPL stands dissolved without undergoing the process of winding up," the company said.

About Newgen Software: Newgen is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities. Globally, successful enterprises rely on Newgen's industry-recognized low-code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud. From onboarding to service requests, lending to underwriting, and many more use cases across industries. Newgen unlocks simplicity with speed and agility, according to its official website.

Disclaimer:

The article just highlights important updates for the company's shareholders and the share price performance of the stock post-Q2 results, The article should not be seen as a piece of recommendation to buy, sell or hold. The author has not done fundamental or technical analysis and has no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please do your own research before making any stock market investment and consult a professional advisor.