Newgen Software shares staged a sharp intraday comeback on February 17, with the stock rallying more than 15% in afternoon trade. As of 1:50 PM IST, the counter touched a high of ₹541.00, bouncing strongly from the day’s low of ₹458.65, which also marks its 52-week low.
The stock opened at ₹463.05, the same level as its previous close, before witnessing aggressive buying interest through the session. Heavy trading activity accompanied the move, with volumes crossing 3,64,42,543 shares, indicating heightened investor participation.
Strong Intraday Recovery From 52-Week Low
The sharp rebound is particularly noteworthy as the stock had earlier slipped to its 52-week low of ₹458.65. The swift recovery toward ₹541.00 suggests short-covering as well as fresh accumulation at lower levels.
Despite today’s surge, the stock remains significantly below its 52-week high of ₹1,377.15, highlighting the steep correction it has undergone over the past year.
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