Newgen Dubai arm wins Rs 13.07 Cr UAE govt tax compliance contract
NEWGEN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.4 pts less than Nifty Smallcap 250 and 1.4 pts less than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Newgen's Dubai-based wholly owned subsidiary has signed a 3-year agreement worth AED 5,309,103 (about Rs. 13.07 Crore, excluding VAT) with a large UAE government organization. The deal covers Newgen software licenses, implementation, and support services for an Automatic Exchange of Information - Pillar 2 tax compliance system. The customer name is withheld for confidentiality, and no related party interest is involved.
Boosts international order book and validates Dubai subsidiary strategy, but order size is modest versus company revenue, so limited share price impact expected.