New Bonus Issue Tomorrow: Mid Cap IT Software Stock Jumps 250% Year-To-Date

Board of directors of mid cap IT Software company Newgen Software are scheduled to consider and recommend bonus shares tomorrow (i.e. November 27, 2023), as per the regulatory filing of the company issued earlier this month on November 17, 2023.

Last trading price of Newgen Software share BSE is Rs 1269.15 apiece with intraday fall of 2.42% as on November 24, 2023. Newgen Software shares surged 250% year-to-date and soared 270% in last 1-year. The company has a market capitalisation of Rs 8892.86 crore. Check details below:

Newgen Software Stock Performance & Return Over Years: The stock's 52-week high price is Rs 1369.90 per share and 52-week low price is Rs 329.00 per share, respectively. Newgen Software shares gained 37% in last 3-months, soared 106% in last 6-months, gained 270% in last 1-year, and offered return of 371% in last 3-years. In last 5-years, Newgen Software shares gained 293%.

Newgen Software To Consider Bonus Share Tomorrow: As per the company's regulatory filing announced by the company on November 17, "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 Technologies Financials: The company for the quarter ended September 2023 declared a surge of 29.7% in its revenue from operations to Rs 293 crore as against Rs 226 crore declared in the corresponding quarter of last year. Newgen's EBITDA rallied 59.3% YoY to Rs 57.2 crore for the quarter under consideration. Its 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.

Newgen recognized as a 'strong performer' in digital process automation: Recently, on November 15 Newgen Software has been identified as a 'Strong Performer' in The Forrester Wave^TM: Digital Process Automation Software (DPA), Q4 2023, authored by Craig Le Clair.

According to the report, "Newgen brings its content management strengths to DPA. Content deeply integrates with process and case management, particularly in areas like contract management and onboarding. With content as a differentiator, Newgen excels in document automation with the ability to derive structured data from a variety of unstructured content sources. Reference customers indicated that they use Newgen for mission-critical applications across smaller distributed teams but want investments that better suit citizen development and wide deployments. They say that the vendor offers well-priced direct resources to help with customizations and costs less than higher-end platforms."

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 Q2 results 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.