Newgen Share Price 📈
Investors are seeking multi-bagger stocks to earn good returns in the market, and one such stock to keep an eye on is Newgen Software. The company has delivered impressive returns to its investors in a short span of time. On the last Friday, the share closed at Rs. 1,393.30 with a decline of 2.16%. The stock’s highest level in the past 52 weeks is Rs. 1,489, while the lowest level is Rs. 329. With a market capitalization of Rs. 9,762.77 crores, brokerage firms are optimistic about the company’s shares.
Bonus Shares Announcement 📢
Newgen Software is preparing to issue bonus shares to its investors in a ratio of 1:1, with the ex-date expected to be in January 2024. The company has already paid 50% dividend to its shareholders in the current financial year. Last month, the company’s board of directors approved the proposal of issuing bonus shares, under which existing shareholders will receive new bonus shares in exchange for their current shares. The record date to ensure share eligibility has been set as January 12.
Brokerage Firm’s Outlook ✨
Global brokerage firm Jefferies expects a bullish trend in Newgen Software shares. They have raised the target price to Rs. 1,740, anticipating a growth of approximately 25% in the company’s shares.
Impressive Performance 🚀
Newgen Software has shown a remarkable performance in the past month, with a surge of around 18% in its share price. Over the past 6 months, it has delivered an outstanding return of 113%. The stock has witnessed a staggering growth of 285% this year, while investors have earned nearly 300% bumper profit in the last one year.
With such promising prospects and a strong track record, Newgen Software’s shares have caught the attention of investors. The company’s consistent growth and the upcoming bonus share issuance make it an attractive investment option.
So, if you’re looking for a lucrative opportunity in the market, keeping an eye on Newgen Software’s shares could be a wise move. 📈💼
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
