Newgen Software surges 5% on Rs 64 crore order win

Share price of Newgen Software Technologies rose 5.3 percent intraday Friday as company received work order worth Rs 63.93 crore.

The company has received a work order for document management system (DMS) and digitization project of the records of District and Subordinate courts in the state of Maharashtra on turnkey basis, subject to approval of pilot phase.

This work order pertains to digitisation of Judicial Records for Rs 63,93,24,000.

The work order does not fall within the definition of related party transaction as specified in the companies Act, 2013.

None of the promoter / promoter group / group companies have any interest in the entity that awarded the work order.

The duration of the work order is for 3 years. Since it is a turnkey project the entity that awarded the work order reserves the right to extend the duration of the work order at its sole discretion.

At 09:44 hrs Newgen Software Technologies was quoting at Rs 251.90, up Rs 6.90, or 2.82 percent on the BSE.

The share touched its 52-week high Rs 271.95 and 52-week low Rs 215.10 on 18 May, 2018 and 06 February, 2018, respectively.

Currently, it is trading 7.37 percent below its 52-week high and 17.11 percent above its 52-week low.

Posted by Rakesh Patil
First Published on Jun 29, 2018 09:52 am

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