Multibagger IT stock in news today as firm wins three orders 

Shares of Newgen Software are in news on Tuesday after the firm said it received three separate orders. Newgen Software stock closed 5.35% lower at Rs 1343.05 on Monday against the previous close of Rs 1,418.90 on BSE. Market cap of the firm slipped to Rs 18,841 crore. Total 0.41 lakh shares changed hands amounting to a turnover of Rs 5.54 crore on BSE. 

The multibagger stock has surged 198.36% in a year and gained 653.34% in two years. It has zoomed 360% in three years. In terms of technicals, the relative strength index (RSI) of Newgen Software stood at 65.4, signaling it's trading neither in the overbought nor in the oversold zone. Newgen Software stock has a one-year beta of 0.8, indicating very low volatility during the period. Newgen Software shares stand higher than the 5 day, 10 day,  20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.   

Newgen Software Ltd said it has received and accepted the Letter of Intent, the aggregate value of the Letter of Intent is Rs 16.92 crore. The order is to be executed in 10 years.  

The company also said its subsidiary Newgen Software Inc. (NSI), incorporated in the USA, has accepted the “Letter of Award for Provision and Implementation of an Enterprise Content Management Solution”. The aggregate value of the Letter of Award is $1,524,806.00.  The order is to be executed in five years.  

In the third disclosure, the firm said Newgen Software Technologies Company Limited (the wholly owned- subsidiary Company incorporated in Saudi Arabia) has received and accepted the purchase order. The aggregate value of the aforesaid purchase order is $1,500,000. The order is to be executed in 29 months.  

Newgen Software Technologies Limited is a provider of a unified digital transformation platform (NewgenONE) for automating the end-to-end process and comprehensively managing content and communications, backed by artificial intelligence (AI)-based cognitive capabilities, governance and a robust integration ecosystem. The core products of NewgenONE platform are Contextual Content Services (ECM), Low Code Process Automation (BPM), Omnichannel Customer Engagement (CCM) and Artificial Intelligence Cloud.