Mukul Agrawal slashes holding in Newgen Software. Picks up stake in this multibagger
Newgen Software Technologies to 1.14% or 800,000 shares in the quarter ending June. The investor also picked up 1.34% stake amounting to 11,26,765 equity shares in Zen Technologies during the reported quarter. Shareholding trend of individual investors reflects in the ‘Shareholding Pattern’ of BSE listed companies on reaching 1% stake or above in the company.
Newgen provides a unified digital transformation platform with native process automation, content services, and communication management capabilities. The company has operations in Canada, Europe, Middle, Asia Pacific apart from its Indian operations. Zen Technologies is a Hyderabad-based defence technology company with a portfolio of over 40 products designed and developed indigenously as per the claims made by the company.
Newgen shares ended with declines on Monday. The multibagger stock has given more than 120% returns over a 12-month period, outperforming the Nifty50, which has given over 18% returns during this period. The stock has been relatively low on volatility and traded with a 1-year beta of 0.80 according to Trendlyne.
With Day's RSI and MFY at 81 and 93, the stock is trading in a strongly overbought zone. Zen Technologies also closed with declines. The stock has given returns of over 250% during this period and has traded with an average volatility with 1-year beta at 1, according to Trendlyne.
Day's RSI and MFI were at 84.4 and 96.8, indicating that the stock is strongly overbought. As per the latest corporate shareholdings filed, Mukul Mahavir Prasad Agrawal publicly holds 54 stocks with a net worth of over Rs 3,652 crore according to Trendlyne data. The latest quarter trends could be missing since not all companies may have reported their
. Read more on economictimes.indiatimes.com
