Newgen Software hits highest level since listing; zooms 35% in one week

The stock hit a new high of Rs 346, up 13%, surging 51% in past one month after it reported a more-than-double consolidated net profit at Rs 178 million in September quarter.

Shares of Newgen Software Technologies have moved higher by 13% to Rs 346 per share on BSE in an otherwise weak market.

The stock of IT consulting & software firm is trading at its highest level since listing on January 29 this year. In past one week, it has rallied 35%, as compared to a 1.4% rise in the S&P BSE Sensex.

In past one month, the stock zoomed 51% after it reported a more-than-double consolidated net profit in September quarter (Q2FY19). In comparison, the benchmark index gained 4.4% during the same period.

Newgen Software Technologies posted a