Ramco Systems spurts after overseas order win

Ramco Systems rose 5.24% to Rs 540.45 at 11:15 IST on BSE after the company's overseas subsidiary secured order for Ramco HCM & Payroll.

The announcement was made after trading hours yesterday, 24 August 2016.

Meanwhile, the S&P BSE Sensex was up 74.95 points, or 0.27%, to 28,134.89

On BSE, so far 25,000 shares were traded in the counter, compared with average daily volume of 2,293 shares in the past one quarter. The stock hit a high of Rs 563.40 and a low of Rs 520 so far during the day. The stock hit a 52-week high of Rs 900 on 9 November 2015. The stock hit a 52-week low of Rs 494 on 22 August 2016. The stock had underperformed the market over the past 30 days till 24 August 2016, falling 19.64% compared with Sensex's 0.3% rise. The scrip had also underperformed the market in past one quarter, sliding 27.67% as against Sensex's 6.42% rise.

The small-cap company has an equity capital of Rs 30.08 crore. Face value per share is Rs 10.

Ramco Systems' said that the company's subsidiary, Ramco Systems Pte., Singapore, has secured an order from one of the top 5 most valuable global brands for Ramco HCM & Payroll in Asia-Pacific region (APAC).

Ramco Systems' consolidated net profit dropped 91.35% to Rs 0.90 crore on 11.35% fall in total income to Rs 110.52 crore in Q1 June 2016 over Q4 March 2016.

Ramco Systems is a software products and services provider incorporated in India. Ramco Systems is a provider of enterprise resource planning, human capital management and aviation maintenance & engineering (M&E) & maintenance repair & overhaul (MRO) software.

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