Bonus Issue On Nov 27: IT Software Co To Recommend Bonus Share; YTD Return 243%

Board of directors of leading mid cap IT Software company Newgen Software have scheduled a meeting on November 27, 2023 to consider and recommend bonus shares, according to the BSE filing of the company issued on November 17, 2023. Last trading price of Newgen Software share on BSE is Rs 1242.60 per share with intraday gain of 5.00% as on November 17, 2023. Newgen Software shares hit upper circuit in trade yesterday. Newgen Software shares offered 243% return year-to-date and gained 264% in last 1-year. Check details below:

Newgen Software To Consider Bonus Share On Nov 27: According to the BSE filing of the company issued on 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 Performance & Return: The stock's 52-week high price is Rs 1249.00 per share and 52-week low price is Rs 329.00 per share, respectively. The company has a market capitalisation of Rs 8692.70 crore. Newgen Software shares soared 34% in last 3-months, rose 243% YTD, surged 105% in last 2-years, and offered return of 357% in last 3-years. In last 5-years, Newgen Software stock jumped 299%.

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 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.