Multibagger IT stock in green after bagging an international order worth USD 19,30,147 from a USA-Based client

The stock is up by 58 per cent from its 52-week low and gave multibagger returns of over 900 per cent in 5 years.

On Thursday, shares of Newgen Software Technologies Ltd gained 3.13 per cent to Rs 990 per share from its previous closing of Rs 960.40 per share. The stock’s 52-week high is Rs 1,795.50 per share and its 52-week low is Rs 626.05 per share.

Newgen Software Technologies Limited has secured a three-year Statement of Work (SoW) agreement with a USA-based client, valued at USD 1,930,147. This international contract, as disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirms that no promoter, promoter group, or group company has any interest in the client awarding the contract.

About the Company

Newgen Software Technologies is a global software Company engaged in software product development, including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to Document management to imaging.

Newgen Software, with a market capitalisation exceeding Rs 14,000 crore and a remarkable 3-year stock price CAGR of 60 per cent, has demonstrated consistent growth. The company's commitment to profitability is evident in its 19.6 per cent CAGR in profit growth over the past 5 years. Additionally, Newgen Software has maintained a healthy dividend payout of 21.4 per cent. The stock is up by 58 per cent from its 52-week low and gave multibagger returns of over 900 per cent in 5 years. Investors should keep an eye on this small-cap IT stock.

Disclaimer: The article is for informational purposes only and not investment advice.