Newgen Software Technologies surges on incorporating wholly owned subsidiary in Saudi Arabia
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Newgen Software Technologies is currently trading at Rs. 824.00, up by 21.85 points or 2.72% from its previous closing of Rs. 802.15 on the BSE.
The scrip opened at Rs. 810.95 and has touched a high and low of Rs. 839.00 and Rs. 788.80 respectively. So far 89869 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 839.00 on 21-Jul-2023 and a 52 week low of Rs. 327.95 on 10-Nov-2022.
Last one week high and low of the scrip stood at Rs. 839.00 and Rs. 671.00 respectively. The current market cap of the company is Rs. 5760.50 crore.
The promoters holding in the company stood at 55.16%, while Institutions and Non-Institutions held 23.56% and 21.28% respectively.
Newgen Software Technologies has incorporated a wholly owned subsidiary (WOS) of the company in Saudi Arabia. The company has incorporated WOS on July 20, 2023. The objective of incorporation is to cater to the increasing market base/business in the country of Saudi Arabia (including adjacent countries).
Newgen Software Technologies is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.
