Shares of Newgen Software Technologies hit a 52 week high, surging 4 percent to Rs 519.45, on the BSE in Wednesday's intra-day deals after the promoters sold their 10.57 percent stake in the company via open market on Tuesday. Three promoters of Newgen Software Technologies Ltd on Tuesday offloaded shares worth over Rs 335 crore of the firm which represents a 10.57 percent equity stake in the Company through open market transactions. The aforesaid stake in the Company was sold at an average price of approximately Rs 454 per equity share, which was at a marginal discount to the closing price of the stock on NSE on June 14, 2021, of Rs 458.3 per equity share, it said.
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