Ramco Systems zooms 44% in 2 days as investor Vijay Kedia buys stake in Co

On June 10, 2020, Vijay Kishanlal Kedia purchased 339,843 shares, representing 1.1 per cent of the total equity of Ramco Systems, at Rs 87.82 per share on the NSE.

Shares of Ramco Systems were locked in the upper circuit band for the second straight day, up 20 per cent at Rs 110.30 on the National Stock Exchange (NSE) on Thursday, after investor Vijay Kedia acquired a stake in the company via open market on Wednesday.

The stock of IT consulting & software company has zoomed 44 per cent in the past two trading days from the level of Rs 76.65 on Tuesday.

Till 09.21 am, a combined 681,819 equity shares changed hands and there were pending buy orders for a combined 380,089 shares on the NSE and BSE.

On June 10, 2020, Vijay Kishanlal Kedia purchased 339,843 shares, representing 1.1 per cent of the total equity of Ramco Systems, for about Rs 3 crore. He has bought these shares at an average price of Rs 87.82 per share through a block deal on the NSE, the exchange data shows.

Vijay Kedia had nil holding in the company till the end of December quarter, shareholding pattern data shows.

The stock of Ramco Systems hit a 52-week low of Rs 64.10 on March 25, 2020, and had slipped more than 50 per cent from its 52-week high level of Rs 232 on June 11, 2019.

Vijay Kedia and his firm Kedia Securities Private Limited hold stakes in smallcap companies like Repro India, Everest Industries, Sudarshan Chemical Industries, Atul Auto, Cera Sanitaryware, Astec Lifesciences and Kokuyo Camlin, data shows.