Newgen Software Technologies Limited, through its wholly-owned subsidiary in Saudi Arabia, has received a notable purchase order worth $2,266,667. This marks a significant milestone, further strengthening the company’s global footprint in the Middle East.
Key Highlights:
- Order Details:
- Value: $2.27 million (approx. ₹18.8 crore).
- Execution Timeline: The project is expected to be completed within one year.
- Purpose: The order showcases Newgen’s expertise in delivering advanced software solutions internationally.
- Operational Impact:
- The order emphasizes Newgen’s growing prominence in the international market, especially in high-growth regions like Saudi Arabia.
- It aligns with the company’s strategy to expand its presence and generate sustainable revenue streams from global operations.
- Non-Related Party Transaction:
- This transaction does not fall under related party dealings, ensuring compliance with regulatory frameworks.
Stock Performance:
As of 2:03 PM on December 24, Newgen Software’s stock is trading at ₹1,580 on the NSE, down 0.34% (₹5.35) from the previous close of ₹1,585.35. Key stock details are as follows:
- Day’s Range: ₹1,575 – ₹1,620.
- 52-Week Range: ₹1,270 – ₹1,735.
- Market Capitalization: ₹4,500 crore (approx.).
- P/E Ratio: 32.45.
- Dividend Yield: 1.2%.
