Shares of Newgen Software Technologies Ltd. surged over 11% on Friday with the stock trading Rs 526.90 apiece. The stock opened at 0.81% to trade at Rs 477.05 and has been rallying as the day progressed.
The IT company in its regulatory filing confirmed that no securities were received from the depository participants for dematerialisation and rematerialisation during the quarter ended June, 2026.
Newgen Software Technologies told the exchanges that the meeting of the Board of Directors of the Company is scheduled on July 16 to consider and approve the Unaudited Standalone and Consolidated Financial Results of the Company for Q1FY27 ending June 30, 2026.
Earlier on July 2, the company's board approved a leadership reshuffle following CEO Virender Jeet's planned exit on August 31, 2026. Current COO Tarun Nandwani has been appointed Chief Executive Officer and Key Managerial Personnel (KMP) for an 18-month term from August 1, 2026, to January 31, 2028.
The board has also appointed Pramod Kumar, currently Vice President–Sales at the company's Singapore subsidiary, as Chief Growth Officer (CGO) and KMP with effect from August 1, 2026. Additionally, Whole-time Director T. S. Varadarajan has been designated as Vice Chairman with immediate effect, while continuing in his existing role.
IT Stocks Rally
There has been rise in the IT sector stocks on Friday which has resulted in postive market sentiment in the technology sector pack. Shares of Tata Consultancy Services Ltd., Infosys Ltd., LTIMindtree Ltd. and other IT companies rallied on Friday after TCS reported broadly in-line first-quarter revenue, while a sharp rebound in US AI and semiconductor stocks further lifted sentiment.
The rally followed TCS' results for the first quarter of FY27. India's largest IT services company reported revenue broadly in line with Street expectations, although profit and operating margins declined sequentially.
ALSO READ: IT Stocks Rally: Infosys, LTM, Tech Mahindra Shares Jump Over 4% After TCS Q1 Meets Estimates
Newgen Software Technologies Ltd. Share Price Today
Newgen Software Technologies Ltd. Share Price Today
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The scrip rose as much as 11.33% to Rs 526.80 apiece intraday on Friday. This compares to a 1.02% rise in the NSE Nifty 50 Index.
It has fallen 53.06% in the last 12 months and 38.63% year-to-date. Total traded volume so far in the day stood at 2.82 times its 30-day average. The relative strength index was at 31.72.
Out of nine analysts tracking the company, six maintain a 'buy' rating, two maintain a "hold", and one maintain a "sell" rating, according to Bloomberg data. The average 12-month consensus price target of Rs 684.29 implies an upside of 31.1%
ALSO READ: TCS Q1 Results In Six Simple Charts — Wage Hike Impact To AI Revenue Jump
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