Newgen Software Technologies experienced a 3.5% increase in its shares during early trading on November 29. This rise followed the announcement of a Rs 32.45 crore order from the Reserve Bank of India (RBI) for the implementation and maintenance of the Regulatory Application Management System (RAMS).

In the September quarter, Newgen Software reported a 47% increase in consolidated net profit, reaching Rs 70.3 crore. Additionally, revenue from operations rose by 14.8% to Rs 361.2 crore. The company's stock has performed exceptionally well this year, with a year-to-date surge of over 45%. This growth significantly outpaced the Nifty 50 index, which has gained 10% during the same period.

Newgen Software confirmed that the order complies with the terms specified in the Request for Proposal (RFP) and does not qualify as a related party transaction under the Companies Act, 2013.