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Ramco Systems Gains 4%; BSE IT Index Down 0.3%
Tue, 3 Sep 9:31

Ramco Systems Gains 4%; BSE IT Index Down 0.3%Image source: Nikada/www.istockphoto.com

Ramco Systems share price has zoomed 4% and is presently trading at Rs 410.5.

Meanwhile, the BSE IT index is at 43,496.2 (down 0.3%).

Among the top gainers in the BSE IT index today are INDIAMART INTERMESH (up 2.0%) and TANLA SOLUTIONS (up 1.1%).

Tech Mahindra (down 0.8%) and Infosys (down 0.6%) are among the top losers today.

Over the last one year, Ramco Systems has moved up from Rs 283.7 to Rs 410.5, registering a gain of Rs 126.9 (up 44.7%).

On the other hand, the BSE IT index has moved up from 31,467.7 to 43,496.2, registering a gain of 38.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 171.7%), INFIBEAM AVENUES (up 112.5%) and PERSISTENT SYSTEMS (up 101.0%).

Must See: These Segments are Witnessing Incredible Growth with Modi's Push

What About the Benchmark Indices?

The BSE Sensex is at 82,493.2 (down 0.1%).

The top losers among the BSE Sensex today are Bajaj Finance (down 1.2%) and Bajaj Finserv (down 1.0%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 25,267.2 (down 0.1%). Bajaj Finance and Bajaj Finserv are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,087.3 to 82,493.2, registering a gain of 17,405.9 points (up 26.7%).

Ramco Systems Financial Update...

Ramco Systems net profit grew 58.2% YoY to Rs -196 million for the quarter ended June 2024, compared to a loss of Rs 468 million a year ago. Net sales declined 1.8% to Rs 1,370 million during the period as against Rs 1,395 million in April-June 2023.

For the year ended March 2024, Ramco Systems reported 16.8% decrease in net profit to Rs -2,417 million compared to net loss of Rs 2,069 million during FY23. Revenue of the company grew 6.8% to Rs 5,258 million during FY24.

The current Price to earnings ratio of Ramco Systems, based on rolling 12 month earnings, stands at -7.1.

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