Ramco Systems spurts on signing cloud project with Vassallo

The announcement was made during trading hours today, 9 July 2013.

Meanwhile, the S&P BSE Sensex was up 105.38 points or 0.55% at 19,430.15.

On BSE, 6,377 shares were traded in the counter as against average daily volume of 1,085 shares in the past one quarter.

The stock hit a high of Rs 85.05 and a low of Rs 83 so far during the day. The stock had hit a 52-week high of Rs 170 on 16 July 2012. The stock had hit a 52-week low of Rs 67.55 on 4 July 2013.

The stock had underperformed the market over the past one month till 8 July 2013, sliding 14.06% compared with the Sensex's 0.54% fall. The scrip had also underperformed the market in past one quarter, declining 25.63% as against Sensex's 4.81% rise.

The small-cap company has equity capital of Rs 15.74 crore. Face value per share is Rs 10.

Ramco Systems during trading hours today, 9 July 2013, announced the setting up of its fourth office in the Americas in Puerto Rico. Close on the heels of opening its new office, Ramco signed its first ERP on cloud customer in the region with Vassallo Industries.

Mr. Virender Aggarwal, CEO, Ramco Systems said, "Puerto Rico has a rich and thriving manufacturing and construction industry. Adding Vassallo Industries, the leading PVC manufacturer as our customer is a first step towards further strengthening our position in the region. Along with our partner, XTRATEGIT we were able to showcase and build customer confidence on the product depth, usability and fitment for the industry. Our ability to provide Mobility and role-based WorkSpaces was the final clincher. We look forward to a smooth and quick go-live to help us both grow our businesses".

Vassallo Industries is into the production and distribution of PVC pipes and accessories for water and sanitary use, and further diversified into plastic furniture and accessories for household use.

Ramco Systems reported consolidated net loss of Rs 5.73 crore in Q4 March 2013, lower than net loss of Rs 7.34 crore in Q4 March 2012. Net sales rose 35.7% to Rs 69.12 crore in Q4 March 2013 over Q4 March 2012.

Ramco Systems is a software company focused on consulting, products and managed services business.

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