India's Newgen Software hits record high on Q3 profit jump

Newgen Software Technologies

16/01/2024 08:25

** Shares of Newgen Software Technologies  NEWG.NS  rises 5%
to hit a record high of 901 rupees
    ** Software co reported 44.5% Y/Y rise in Q3 consolidated
net profit while rev from ops rose ~27% Y/Y
    ** Revenue growth came from all four geographical segments -
 India, U.S., Asia–Pacific (APAC) and Europe, Middle East,
Africa (EMEA)    
    ** Trading vol 1.9x the 30-day daily avg
    ** Stock on track for a fourth consecutive session of gain,
if trend holds
    ** Avg rating of three analysts is equivalent of "buy";
median PT is 815.50 rupees - LSEG data
    ** Stock rose 333.7% in 2023, its best yearly performance
since listing in 2018



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