Jefferies raises PT for India's Newgen Software Tech, shares up

Newgen Software Technologies

04/12/2023 10:03

** Brokerage Jefferies raises PT for Newgen Software
Technologies  NEWG.NS  to 1,740 rupees from 1,275 rupees on
strong growth prospects
    ** Says trade finance product has significant scope for
scale-up after launch last year
    ** Note flags co prioritising growth over margins may limit
core margin expansion, expects FY24-26 margins to remain in 22%
range
    ** Stock up 1.9% as of 3:26 p.m. IST, taking YTD gains to
~300%

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))