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This software company's stock has more than doubled in the past month

The stock has zoomed 233 per cent in the last three months

Topics
Ramco Systems | Buzzing stocks | Markets

SI Reporter  |  Mumbai 

markets, m-cap

Shares of were frozen in 5 per cent upper circuit for the second straight on Friday at Rs 275 on the BSE in an otherwise weak market. In comparison, the S&P BSE Sensex was down 1.4 per cent at 38,546 points, at 12:07 pm.

The stock of the information technology (IT) consulting & software firm was trading at its 52-week high level. In the past month, it has rallied 105 per cent, as compared to 2 per cent rise in the S&P BSE Sensex. While, in three months, the stock has zoomed 277 per cent against 13 per cent gain in the benchmark index.

Till 12:17 pm, a combined 399,000 equity shares had changed hands on the counter and there were pending buy orders for 85,000 shares on the NSE and BSE, exchange data shows.

Last week, on August 26, HDFC Mutual Fund had acquired 157,337 equity shares, representing 0.51 per cent of the equity of at price of Rs 240 per share on the NSE, bulk deal data shows. The name of sellers was not ascertained immediately.

In disclosure to stock exchange, HDFC Mutual Fund said there has been an increase in the shareholding of the by the Schemes of HDFC Mutual Fund by 2.25 per cent as of August 26, 2020.

As on August 26, 2020 the aggregate holding of the Schemes of HDFC Mutual Fund in the Company is 8.65 per cent of the paid up equity share capital of the Company, it said.

Meanwhile, on August 25, Ramco Systems said that it has signed up a multi-million Dollar agreement with a leading utilities and infrastructure Group with diversified businesses in Malaysia for delivering Group-wide Digital Transformation spanning across its ports and logistics operations. With this win, Ramco’s enterprise platform will support in managing more than 50 per cent of all port operations in Malaysia.

Earlier, on June 10, 2020, ace investor Vijay Kishanlal Kedia had purchased 339,843 shares, representing 1.1 per cent of the total equity of Ramco Systems, for about Rs 3 crore. He 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.

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First Published: Fri, September 04 2020. 12:23 IST
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