Newgen Software Technologies rises on getting nod to incorporate WOS in Saudi Arabia

Newgen Software Technologies is currently trading at Rs. 435.55, up by 6.90 points or 1.61% from its previous closing of Rs. 428.65 on the BSE.

Newgen Software Technologies
Newgen Software Technologies

The scrip opened at Rs. 430.85 and has touched a high and low of Rs. 437.20 and Rs. 430.85 respectively. So far 753 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 572.35 on 16-Feb-2022 and a 52 week low of Rs. 320.85 on 21-Jun-2022.

Last one week high and low of the scrip stood at Rs. 457.05 and Rs. 423.70 respectively. The current market cap of the company is Rs. 3047.62 crore.

The promoters holding in the company stood at 55.16%, while Institutions and Non-Institutions held 21.23% and 23.61% respectively.

Newgen Software Technologies has received an approval for the incorporation of a wholly owned subsidiary (WOS) of the Company in Saudi Arabia to cater to the increasing market base/business in the country of Saudi Arabia (including adjacent countries). The Board of Directors of the Company at its meeting held on February 14, 2023 has approved the same.

Newgen Software Technologies is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.

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