The shares of this IT company gained up to 5 percent after the company proposed for Declaration of Bonus Shares to the Equity Shareholders of the Company. 

Newgen Software Technology Ltd is a Small-cap with a market capitalization of Rs 9,127.12 Crore. On Monday, the shares were trading at Rs 1,304.70 a share, an increase of 5 percent from the previous close price. 

According to the exchange filing, Newgen Software Company Ltd’s board of directors consider and recommend a proposal for the declaration of Bonus Shares to the Equity Shareholders of the Company in the board meeting, on November 27, 2023. 

Looking into the company’s finances, Newgen Software Technology Ltd’s revenue increased by 29 percent from Rs 226.12 Crore in Q2FY23 to 293.24 Crore in Q2FY24. During the same period, net profits increased by 59 percent from Rs 30.28 crore to Rs 47.79 crore. 

The stock has delivered a multi-bagger return of 117 percent in six months and 287 percent in a year. As a result, if an investor bought Rs 1 lakh shares in the company, their shares are now worth 3.87 lakhs in a year. 

Newgen Software Technology Ltd reported excellent return ratios in the recent financial year with a return on equity (ROE) of 20.04 percent and a return on capital employed (ROCE) of 24.63 percent. 

Newgen Software Technology Ltd’s recent shareholding pattern, The Promoters of the company own 55.16 percent while Retail shareholders own a 19.69 percent stake in the company and Foreign Institutional Investors own a 15.92 percent stake. 

Global software company Newgen Software Technologies develops software products as well as designs and provides end-to-end software solutions that cover the full range of software services, including workflow automation, document management, and imaging. 

Written By:- Abhishek Singh


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