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NEWGEN SOFTWARE Gains 8%; BSE IT Index Up 0.1%
Wed, 24 Jul 9:50

NEWGEN SOFTWARE Gains 8%; BSE IT Index Up 0.1%Image source: Chunumunu/www.istockphoto.com

NEWGEN SOFTWARE share price has zoomed 8% and is presently trading at Rs 1,150.0.

Meanwhile, the BSE IT index is at 40,958.1 (up 0.1%).

Among the top gainers in the BSE IT index today are Sonata Software (up 3.6%) and ZENSAR TECHNOLOGIES (up 2.7%).

Mphasis (down 1.5%) and HCl Tech. (down 1.0%) are among the top losers today.

Over the last one year, NEWGEN SOFTWARE has moved up from Rs 403.7 to Rs 1,150.0, registering a gain of Rs 746.3 (up 184.9%).

On the other hand, the BSE IT index has moved up from 30,124.1 to 40,958.1, registering a gain of 36.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 190.5%), PERSISTENT SYSTEMS (up 101.3%) and INFIBEAM AVENUES (up 93.6%).

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What About the Benchmark Indices?

The BSE Sensex is at 80,197.5 (down 0.3%).

The top losers among the BSE Sensex today are Hindustan Unilever (down 3.0%) and Bajaj Finance (down 2.3%). The most traded stocks in the BSE Sensex are ITC and Tata Steel.

In the meantime, NSE Nifty is at 24,409.1 (down 0.3%). Hindustan Unilever and Tata Consumer Products are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,384.8 to 80,197.5, registering a gain of 13,812.7 points (up 20.8%).

NEWGEN SOFTWARE Financial Update...

NEWGEN SOFTWARE net profit grew 57.5% YoY to Rs 476 million for the quarter ended June 2024, compared to a profit of Rs 302 million a year ago. Net sales rose 25.1% to Rs 3,147 million during the period as against Rs 2,517 million in April-June 2023.

For the year ended March 2024, NEWGEN SOFTWARE reported 42.1% increase in net profit to Rs 2,516 million compared to net profit of Rs 1,770 million during FY23. Revenue of the company grew 27.7% to Rs 12,438 million during FY24.

The current Price to earnings ratio of NEWGEN SOFTWARE, based on rolling 12 month earnings, stands at 60.0.


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