Shares of Newgen Software Technologies Ltd hit a record high today after the software and consulting firm said it has received a purchase order for the implementation of end-to-end trade finance including customer web portal & supply chain finance solution. The value of the order is Rs 34.64 crore. The order is valid for 5 years from the date of going live.
The IT stock zoomed 6.13% to an all-time high of Rs 724.60 on BSE on Wednesday. Newgen Software stock opened higher at Rs 685. Market cap of the firm rose to Rs 5059 crore. Total 0.36 lakh shares changed hands amounting to a turnover of Rs 2.56 crore on BSE. The IT stock has surged 88% in a year and gained 99% in 2023. It has zoomed 318% in three years.
In terms of technicals, the relative strength index (RSI) of Newgen Software stood at 62.3, signaling it's trading neither in the overbought nor in the oversold zone. Newgen Software stock has a one-year beta of 0.7, indicating very low volatility during the period. Newgen Software shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day averages.
“Newgen Software Technologies Limited (“the Company”) has received a purchase order for the implementation of end-to-end trade Finance including Customer Web Portal & Supply Chain Finance Solution. The aggregate value of the aforesaid purchase order is Rs 34,64,00,000/- (Rupees Thirty-Four Crore Sixty-Four Lakhs Only) plus applicable taxes,” said the company.
Newgen Software Technologies Limited is a provider of a unified digital transformation platform (NewgenONE) for automating the end-to-end process and comprehensively managing content and communications, backed by artificial intelligence (AI)-based cognitive capabilities, governance and a robust integration ecosystem. The core products of NewgenONE platform are Contextual Content Services (ECM), Low Code Process Automation (BPM), Omnichannel Customer Engagement (CCM) and Artificial Intelligence Cloud.