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Ramco Systems hits 52-week high after order win

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Ramco Systems hit an upper circuit of 5% at Rs 493.10 after the company said it bagged an order from Toll Logistics to transform supply chain operations of its chemicals division in Australia and New Zealand.

Toll Logistics, one of Asia Pacific's leading integrated logistics services provider with operations in road, rail, sea, air and warehousing, has chosen Ramco Logistics ERP to transform the complete supply chain operations of its chemicals business division in Australia and New Zealand. In addition, Ramco Logistics will also be rolled out as a unified out-of-the-box ERP across its new businesses in Asia. The announcement was made during trading hours today, 6 October 2020.

The Ramco Systems scrip is currently frozen at its 52-week high level. It has soared 669.26% from its 52-week low of Rs 64.10 hit on 21 May 2020.

The stock has zoomed 71.39% in the past one month while the Nifty IT index rose 14.79% during the same period.

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

The IT firm's consolidated net profit surged 380.7% to Rs 14.18 crore on a 4% increase in net sales to Rs 145.25 crore in Q1 June 2020 over Q1 June 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, October 06 2020. 15:10 IST