Buy Newgen Software Technologies, target price Rs 440: ICICI Direct

ICICI Direct has buy call on Newgen Software Technologies with a target price of Rs 440. The current market price of Newgen Software Technologies is Rs 361.45.

Time period given by analyst is 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 2526.45 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 30-06-2022, the company reported a Consolidated Total Income of Rs 198.03 Crore, down -16.28 % from last quarter Total Income of Rs 236.55 Crore and up 16.41 % from last year same quarter Total Income of Rs 170.12 Crore. Company reported net profit after tax of Rs 19.18 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 55.16 per cent stake in the company as of 30-Jun-2022, while FIIs owned 14.75 per cent, DIIs 6.8 per cent.