 "Here's why Newgen Software shares were buzzing in trade on November 29")
Newgen Software share price: Shares of software firm Newgen Software were in demand on Friday November 29, 2024, as the scrip rallied up to 4.69 per cent to hit an intraday high of Rs 1,183.70 per share.
The uptick in the Newgen Software share price came after the company revealed that it has received a purchase order of Rs 32.4 crore from the Reserve Bank of India (RBI) for the implementation and maintenance of the Regulatory Application Management System (RAMS).
In an exchange filing, Newgen Software said, “We hereby inform you that Newgen Software Technologies Limited has received a Purchase Order from the Reserve Bank of India (RBI) for the implementation and maintenance of the Regulatory Application Management System (RAMS).”
The aggregate value of the order stood at Rs 32,44,67,835, inclusive of 18 per cent Goods and Services Tax (GST).
The contract is expected to be executed in 7 years, the company said.
Set up in 1992, Newgen Software is the leading provider of a unified digital transformation platform with native process automation, content services, and communication management capabilities.
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Headquartered in New Delhi, Newgen Software is an information technology (IT) company specialising in Enterprise Content Management (ECM), Business Process Management (BPM), Customer Communication Management (CCM), and Case Management solutions for both private and government-owned enterprises and their subsidiaries.
The market capitalisation of Newgen Software is Rs 16,369.25 crore. The company falls under the SmallCap category.
The 52-week high of the stock is Rs 1,547.20 while its 52-week low is Rs 626.05 per share.
At 9:50 AM, shares of Newgen Software were trading 3.20 per cent higher at Rs 1,166.80 per share. In comparison, BSE Sensex was trading 0.37 per cent higher at 79,338.79 levels.