Bonus Issue Next Week: IT Stock Hits Upper Circuit, 52-Week High, Up 260% YTD

As board of directors of mid cap IT Software sector company Newgen Software are set to meet on November 27, 2023 to consider and recommend bonus share, the stock today hit upper circuit and 52-week high in trade on BSE. Current market price of Newgen Software share on BSE is Rs 1304.70 per share. The company has a market capitalisation of Rs 9127.12 crore. Newgen Software stock gained 111% in last 6-months and soared 283% in last 1-year. Check details below:

Newgen Software To Announce Bonus Share On November 27: As per the regulatory filing of the IT Software company dated November 17, 2023, "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 Outlook & Return: Newgen Software share's 52-week high price is Rs 1304.70 per share and 52-week low price is Rs 329.00 per share, respectively. Newgen Software shares gained 11% in last 1-week, soared 119% in last 2-years, and offered return of 378% in last 3-years.

Newgen Software Technologies Q2 Results: Newgen Software for the quarter ended September 30, 2023 announced a surge of 29.7% in its revenue from operations to Rs 293 crore as compared to Rs 226 crore reported last year. The company's EBITDA soared 59.3% YoY to Rs 57.2 crore. Its margins got improved 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 for many more use cases across industries. Newgen unlocks simple with speed and agility, according to its official website.

Disclaimer:

The stock just highlights the rally in shares after bonus share announcement and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.