Buy Newgen Software Technologies, target price Rs 419: ICICI Direct

ICICI Direct has buy call on Newgen Software Technologies with a target price of Rs 419. The current market price of Newgen Software Technologies is Rs 352.5.

Time period given by analyst is one year when Newgen Software Technologies Ltd. price can reach defined target.
Newgen Software Technologies Ltd., incorporated in the year 1992, is a Small Cap company (having a market cap of Rs 2463.49 Crore) operating in IT Software sector.


Newgen Software Technologies Ltd. key Products/Revenue Segments include Software Services and Software Products for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 236.55 Crore, up 12.77 % from last quarter Total Income of Rs 209.76 Crore and up 15.65 % from last year same quarter Total Income of Rs 204.55 Crore. Company reported net profit after tax of Rs 57.41 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 55.16 per cent stake in the company as of 31-Mar-2022, while FIIs owned 15.71 per cent, DIIs 7.48 per cent.