Newgen Software Technologies stock rose 12.56% to the high of Rs 974.75 against the previous close of Rs 865.95 on BSE. Market cap of the firm rose to Rs 13,611 crore.
Short term traders can look to buy the stock on marginal fall for a target above Rs 1300 levels, suggest experts. The stock closed at Rs 1136 on 31 October 2023.
The company reported a consolidated net profit of Rs 478 crore for the quarter ended September 30 which was up by 59.3% year-on-year versus Rs 300 crore reported by it in the corresponding quarter of the last financial year.