A piece of good news was made by the Newgen Software board this Monday. The board decided to offer a bonus of 1 share on every 1 share held. Read the full article here where you’ll get the full details regarding this topic.
The company board members said in a BSE filing on Monday, that they mentioned there about the bonus share in the proportion of 1:1, one paid-up bonus equity share of ₹10 each is granted on one fully paid-up share.
The company takes steps in order to make happy their shareholders by giving them a bonus share. However, it is the first time that the company offers bonus shares to their shareholders.
You can understand in a very simple way, suppose someone have 10 shares of Newgen Software, then 10 more share will be added because the company offer lie in the ratio of 1:1. Therefore, on every share invested will get another. The number of shares will be double, nobody has to pay any amount for it.
On Friday, the company’s stock price fell 1.5 percent to ₹1,280. Now the market will open on Tuesday after the Gurunank Jayanti.
The NewGen Software company has shown significant growth in the last couple of years. In just one year 2023 YTD, the stock gave multicenter return which has come out to be 270% in the last year and 250% in 2023 till date.
The stock of the company showed 14% in just November month, it also maintains consistency in providing profit in all 11 months of the calendar year. In May, the stock grew by 27% which is an all-time high in the market, and grew by 2.5% in February which is the least growth can be seen by the company.
Therefore, the stock price reached to record high value of ₹1,375 on November 21, 2023. In 52 weeks the stock has increased from ₹299.95 to ₹1,375; from December 12, 2022, to now.
The company has shown a positive result in every quarter now, in the September quarter.