ETMarkets.com Earlier this month, Newgen Software announced key changes to its top management.
Synopsis Newgen Software shares experienced a significant surge, mirroring a broader IT sector advance.
The company announced key leadership changes, appointing Tarun Nandwani as CEO.
Investors await the Q1 FY27 results on July 16 for business outlook.
The stock shows improving technical momentum with a neutral RSI reading.
Institutional ownership saw a reduction in the March 2026 quarter.
By Ritesh Presswala, ETMarkets.com XPeers Tata Consultancy Services Share Price Infosys Share Price HCL Technologies Share Price Wipro Share Price Tech Mahindra Share Price Jul 10, 2026, 01:41:00 PM IST Follow us Newgen Software Technologies shares surged 14.63% to Rs 541.65 during Friday's trading session, riding a broad-based rally in the information technology sector.
The stock gained alongside leading IT names as the Nifty IT index advanced more than 2%, supported by upbeat investor sentiment following Tata Consultancy Services' (TCS) better-than-expected first-quarter earnings.ADVERTISEMENT Among largecap IT stocks, Infosys, Wipro, HCL Technologies, and Tech Mahindra climbed as much as 4%, reflecting renewed optimism over the sector's earnings outlook.Earlier this month, Newgen Software announced key changes to its top management.
At its meeting held on July 2, the company's board approved a leadership transition following the resignation of Virender Jeet as Chief Executive Officer (CEO) and Key Managerial Personnel (KMP), effective from the close of business on August 31, 2026.
The resignation had earlier been noted by the board during its meeting on June 12, 2026.
The board appointed Tarun Nandwani as the new Chief Executive Officer and Key Managerial Personnel, while Pramod Kumar was named Chief Growth Officer (CGO) and designated as a Key Managerial Personnel.
Q1 FY27 Results on July 16In a regulatory filing dated July 9, the company informed the BSE that its board will meet on July 16, 2026, to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
The stock's 14-day Relative Strength Index (RSI) stands at 49.1, indicating neutral momentum, with RSI readings below 30 considered oversold and above 70 considered overbought.ADVERTISEMENT ADVERTISEMENT The stock is also trading above six of its eight key simple moving averages (SMAs), suggesting a constructive medium-term trend.On the valuation front, Newgen Software trades at a price-to-earnings (P/E) ratio of 22.41, a price-to-sales (P/S) ratio of 3.61, and a price-to-book (P/B) ratio of 3.79.ADVERTISEMENT Shareholding data for the March 2026 quarter showed a reduction in institutional ownership.
