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DEEP DIVE ANALYSIS • NSE: NEWGEN • FY26 RESULTS Newgen Software Technologies Ltd: From ₹1,336 TO ₹493 — Valuation Reset or the Next Enterprise AI Compounder?  What the Q4 FY26 Numbers Actually Reveal Beneath the Midcap IT Bloodbath By SUMAN MUKHOPADHYAY | SumanSpeaks Independent Research • June 02, 2026 Newgen Software Technologies Ltd (Rs. 493)   was last trading at a pproximately ₹493 — down nearly 63% from its 52-week high near ₹1,336. In most cases, such a collapse signals severe business deterioration. But Newgen’s FY26 financials tell a far more complicated story. The company remains debt-light, highly profitable, cash-generative, and structurally positioned in one of the most important enterprise themes globally: AI-enabled workflow orchestration. Yet the stock has suffered one of the sharpest valuation compressions in the Indian en...
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Market Pulse
1. My Recommended Jai Balaji Industries Ltd at around Rs.11-12, hit the buyer freeze today at Rs.14.10. I mentioned several times earlier in this blog, that the steel counters are likely to do well in the coming days, as the Indian economy slowly recovers from the twin shocks of demonetization and implementation of the GST without proper framework in place. 

2. Unitech Ltd (Rs.6.40) and HDIL (Rs.55), will be  one of the biggest beneficiaries of RERA, as the  law is likely to weed out fly by night operators. This week, HDIL might take an attempt to cross the resistance zone of Rs.67-67.50 -- keep watch.

3. The stock of Reliance Communications Ltd (Rs.17.65), should slowly move towards the natural targets of Rs.21-22, and if it closes above Rs.22.5, then we can again look for targets of Rs.25-27. According to a report in Financial Express, RCom-Sistema Shyam promises Rs.700 crore extra income and 2 million new users for Anil Ambani's telcom venture.

4. There is no stopping of the shares of Shilpi Cable Technologies Ltd, as it hit another buyer freeze today. The stock has been in the Buyer Freeze, since it was recommended around Rs.17. But I feel, the traders should book some profits in the counter, if it comes out of the UC.

 5. One special call, for the regular visitors of my blog: Buy Gitanjali Gems Ltd at around Rs.67, for short term targets of Rs.71-72. Very recently, government of India withdrew an order that brought the Jewelry sector under anti money-laundering legislation. Jewelers were included in the Prevention of Money-Laundering Act in August, increasing compliance requirements. Buyers have been shying away from making purchases as they had to provide their income tax identity for transactions above Rs.50,000 ($766), hindering high-value deals. This has started to have positive effects on the bottomlines of the Jewelry companies. 


5. Today's Buy calls from my associated brokerage house BMA Wealth Creators Ltd:
i) Buy IRB Infrastructure Ltd at around Rs.213, SL: Rs.210, T: Rs.217-219 on T+1 basis.
ii)  Positional Trade: Buy STRTECH around Rs.266, SL below Rs.250, T: Rs.294.

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