Multibagger IT Stock Jumps Over 7 Per Cent After Bagging Order of Rs 21.24 crore from Kshema General Insurance Ltd

On Thursday, shares of Newgen Software Technologies Ltd jumped 7.15 per cent to an intraday high of Rs 937 per share from its previous closing of Rs 874.45 per share. The stock’s 52-week high is Rs 1,795.50 per share and its 52-week low is Rs 740.05 per share. The shares of the company saw a spurt in volume by more than 7 times on the BSE.

Newgen Software Technologies has secured a significant domestic contract valued at Rs 21.24 crore (Rupees Twenty-One Crores and Twenty-Four Lakhs) from Kshema General Insurance Ltd. The order encompasses a comprehensive suite of services, including software licenses, implementation, and annual support, to be executed over five years. This deal is for Newgen's Policy Administration System, a key solution that will assist Kshema General Insurance in its operations.

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About the Company

Newgen Software Technologies is a global software Company engaged in software product development, including designing and delivering end-to-end software solutions covering the entire spectrum of software services from workflow automation to document management to imaging. The company has an order book of Rs 1,664 crore as of March 31, 2025.

Newgen Software, with a market capitalisation exceeding Rs 12,000 crore and a remarkable 3-year stock price CAGR of 60 per cent, has demonstrated consistent growth. The company's commitment to profitability is evident in its 19.6 per cent CAGR in profit growth over the past 5 years. Additionally, Newgen Software has maintained a healthy dividend payout of 21.4 per cent. The stock is up by 26.6 per cent from its 52-week low and has given multibagger returns of over 700 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.