India's Newgen Technologies snaps losing streak on Jefferies upgrade
ReutersJan 21, 2026 4:24 AM
Shares of Newgen Software Technologies NEWG.NS rise as much as 4.7% to 658.15 rupees; set to snap 8 days of loss
Software solutions provider's shares slumped 14.5% on Tuesday after it posted consolidated net profit of 628.2 million rupees; 29.4% lower year-on-year
Jefferies upgrades stock to "Buy" from "Underperform" as it says growth pressures are priced in after a 60% drop in last 12 months
License sales have declined in FY26 on a high base and should normalize in FY27
Brokerage says AI-driven productivity could boost margins; says co's expects GenAI to deliver 20-30% productivity gains in software engineering over the next 2-3 years, which should help lower costs
Stock fell 50.3% in 2025
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