Newgen Software climbs 9% to hit fresh high; gains 25% in three weeks

Shares of Newgen Software Technologies hit a new high of Rs 367, up 9 per cent on the BSE in intra-day trade on the back of heavy volumes, in an otherwise subdued market on Monday. The stock of IT consulting and software firm has rallied 25 in the past three weeks, as compared to a 1.7 per cent rise in the S&P BSE Sensex.

Newgen Software Technologies is in the business of an all-round service of enterprise content management (ECM), business process management (BPM) and customer communications management (CCM).

For first nine months (April-December) of the financial year 2018-19 (FY19), the company had reported a three-fold jump in its consolidated net profit at Rs 39.7 crore, as compared to Rs 13.4 crore in the same period of FY18.