India's Newgen Software hits 2-yr high on Q1 profit jump

Newgen Software Technologies

19/07/2023 09:12

** Shares of Newgen Software Technologies  NEWG.NS  rise as
much as 10.49% to 755 rupees, their highest since July 6, 2021
    ** NEWG reports 57% jump in June-qtr consolidated net
profit; revenue from operations up nearly 34% YoY
    ** Stock above 50-day, 100-day and 200-day exponential
moving averages, suggesting bullish trend
    ** Over 2.9 mln shares change hands by 1:32 p.m. IST, 12x
30-day avg
    ** Avg rating of 3 analysts close to equivalent of "buy",
median PT is 670 rupees - Refinitiv data
    ** Including session's gain, stock up 107.6% YTD

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))