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Shares of Newgen Software Technologies soared 12 per cent, hitting a new high of Rs 511.55, on the BSE in intra-day trade after more than 10 per cent of the company’s equity changed hands on the counter. The stock of the information technology (IT) consulting & software company surpassed its previous high of Rs 464, touched on Monday.
In the morning around 7.5 million shares, representing 10.7 per cent of the total equity of Newgen Software Technologies, had changed hands on the BSE, the exchange data shows. The names of the buyers and sellers were not ascertained immediately.
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As of March 31, 2021, the promoters of Newgen Software held 65.73 per cent stake in the company. Among public shareholders, foreign portfolio investors held 14.63 per cent holding, followed by individual shareholders (9.95 per cent), mutual funds (3.74 per cent) and alternative investment funds (3.11 per cent), shareholding pattern data shows.
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