For the year ended March 31, 2018, the consolidated profit of the company increased by around 45 percent to Rs 73.7 crore from Rs 50.95 crore it posted a year ago.
"A sustained trade beyond 10,750 can extend the up move to levels of 10,900-11,000. On the downside, 10,600 is a crucial support zone, which happened to be the GAP zone that the Index filled in Friday’s trade," says Aditya Agarwala, Technical Analyst at YES Securities.
The medium-term story of India has not changed and is reasonably intact in that it is one of the fastest growing large economies in the world.
The company's Rs 425-crore IPO was subscribed more than 8 times during January 16-18.
Newgen Software is a software products company offering a platform that enables organisations to develop applications addressing their strategic business needs.
Newgen Software's initial public offer (IPO) comprises fresh issue of shares worth up to Rs 95 crore by the company and an offer for sale of 13,453,932 equity shares by the existing shareholders.
SSJ Finance and securities has come out with its report on Newgen Software Technologies IPO , The research firm has recommended to “ Subscribe ” the IPO in its research report as on January 15, 2018.
The IPO, to raise about Rs 424 crore, comprises fresh issue of up to Rs 950 million by the company and an offer for sale by the selling shareholders.