Ramco Systems slips in volatile trade after establishing overseas subsidiary

Ramco Systems fell 0.39% to Rs 359.95 at 12:32 IST on BSE, with the stock reversing intraday gains triggered by the company announcing establishment of Ramco Systems (Shanghai) Co. in China as its wholly owned subsidiary.

The announcement was made after market hours on Friday, 18 November 2016.

Meanwhile, the BSE Sensex was down 320.71 points, or 1.23%, to 25,829.53

On BSE, so far 3,283 shares were traded in the counter, compared with average daily volume of 3,846 shares in the past one quarter. The stock was volatile. The stock hit a high of Rs 375 and a low of Rs 355 so far during the day. The stock hit a 52-week high of Rs 849 on 3 December 2015. The stock hit a 52-week low of Rs 357 on 18 November 2016.

The small-cap aviation software provider has equity capital of Rs 30.12 crore. Face value per share is Rs 10.

Ramco Systems said that Ramco Systems (Shanghai) Co has been established to carry on business operations in China. Ramco Systems (Shanghai) Co belongs to Infomation Technology industry and is yet to commence business operations, Ramco Systems said.

Ramco Systems on 18 November 2016 said that the company has secured an order from Schenker AG for Ramco HCM & Payroll for an aggregate value of about EUR 7.3 million.

Ramco Systems reported consolidated net loss of Rs 1.17 crore in Q2 September 2016 as compared with net profit of Rs 5.99 crore in Q2 September 2015. Total income rose 7.38% to Rs 113.69 crore in Q2 September 2016 over in Q2 September 2015.

Ramco Systems is an enterprise software player offering multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

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