Multibagger IT stock in focus today on order win from RBI 

Shares of Newgen Software are in news on Friday after the firm said it has received a purchase order from the Reserve Bank of India for the implementation and maintenance of the Regulatory Application Management System (RAMS). The value of the purchase order is Rs 32.44 crore.

The multibagger stock closed 1.22% lower at Rs 1130.65 on Thursday against the previous close of Rs 1144.60 on BSE. Market cap of the firm slipped to Rs 15,862 crore. Total 0.32 lakh shares changed hands amounting to a turnover of Rs 3.58 crore on BSE. 

The multibagger stock has surged 69.69% in a year and gained 532.78% in two years. It has zoomed 301% in three years. Newgen Software stock has a one-year beta of 1.1, indicating very low volatility during the period. 

In terms of technicals, the relative strength index (RSI) of Newgen Software stood at 42.8, signaling it's trading neither in the overbought nor in the oversold zone. Newgen Software shares stand higher than the 5 day, 150 day, 200 day but lower than the 10 day,  20 day, 30 day, 50 day and 100 day moving averages. 

"We hereby inform you that Newgen Software Technologies Limited (“the Company”) has received a Purchase Order from the Reserve Bank of India (RBI) for the implementation and maintenance of the Regulatory Application Management System (RAMS). The aggregate value of the aforesaid Purchase Order is INR 32,44,67,835 /-(inclusive of 18% GST)," said Newgen Software in a communication to bourses. 

The time period for the completion of order is seven years. 

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.