Newgen Software Technologies share price surges 20% on high volumes
Newgen Software Technologies share price rose 20.3 per cent to a high of ₹618 per share, the highest level since January 27, on the National Stock Exchange (NSE)
 "Newgen Software Technologies share price surges 20% on high volumes")
Newgen Software Technologies share price today
Newgen Software Technologies share price surged 20 per cent in Thursday's session, hitting a high of ₹618 per share on the National Stock Exchange (NSE). This was the stock's highest level since January 27 this year.
Newgen Software Technologies shares have extended their recovery rally after they hit a 52-week low of ₹458.65 on February 17. From the recent low, the scrip has gained 35 per cent.
As of 12:47 PM, Newgen Software Technologies share price was quoting at ₹608.5 per share, up 13.9 per cent, as against a 0.95 per cent decline in the Nifty 50 index.
In the last 12 months, Newgen Technologies share price decreased 42 per cent, compared to a 11.6 per cent advance in the Nifty 50 index.
Why did Newgen Software Technologies share price rise today?
Today’s strong buying momentum in Newgen Software Technologies stock is accompanied by a significant rise in trade volumes. The counter has seen a trade of 43.9 million shares on NSE so far on Thursday. The total traded volume surged 26 times its 30-day average volume.The relative strength index (RSI) was at 50.33, according to data on Bloomberg.
Newgen Software Technologies is one of the top 10 most actively traded stocks today in terms of traded volume, according to data on NSE.
Though there are no company specific triggers, buying interest could have emerged in the software-consulting company as several IT companies are announcing collaboration with global information technology (IT) giants in the backdrop of India's ongoing AI-Summit.
Recent news
In recent news, Newgen Software Technologies reported that it received order worth AED 53.1 million or ₹13.07 crore in the UAE through its overseas subsidiary.
Newgen Software Technologies L.L.C has executed an agreement with a customer to provide licenses, implementation and support services. The contract is for three years, according to data on exchange filings.
Newgen Software Technologies did not disclose the name of the customer in UAE due to confidentiality reasons, the company said in the exchange filing.
Q3 results
In January, Newgen Software Technologies reported that its profit after tax (PAT) fell 29 per cent on year to ₹62.8 crore in the third quarter (Q3FY26) from ₹89 crore in the same quarter a year ago.
Excluding the impact of the new labour code, the company's net profit grew only 1 per cent on year to ₹90.1 crore in the December quarter.
The total income of Newgen Software Technologies increased 7.9 per cent Y-o-Y to ₹420.3 crore from ₹389.5 crore.