Newgen Addresses Market Buzz: "No Undisclosed Information" Amidst Trading Volume Surge

Newgen Software Technologies Ltd., a prominent name in the realm of business process management, has formally responded to queries from India's leading stock exchanges, the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), concerning an unusual uptick in its trading volume. This clarification comes amidst heightened market scrutiny, a standard procedure when a company's stock experiences significant fluctuations.

The exchanges had sought a detailed explanation from Newgen regarding the sudden and notable increase in the volume of its shares being traded.

Such inquiries are a crucial part of maintaining market integrity and ensuring that all participants operate on a level playing field, preventing potential malpractices like insider trading.

In its official communication, Newgen Software Technologies asserted that it is not privy to any undisclosed information or significant events that would account for the recent surge in its stock's trading activity.

The company emphasized that its operations continue as usual, and there are no new material developments that have not been publicly disclosed in accordance with regulatory norms.

Newgen further reiterated its steadfast commitment to transparency and compliance with all applicable regulations.

The company assured the exchanges and its stakeholders that it would continue to promptly disclose any price-sensitive information as and when it becomes available, adhering strictly to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This response by Newgen aims to quell any speculation in the market, reaffirming that the company maintains its high standards of corporate governance and adheres to timely and comprehensive public disclosures.

Investors and market watchers can thus rely on official communication for any material updates concerning the company's performance or strategic direction.