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Ramco Systems Gains 6%; BSE IT Index Down 0.2%
Tue, 15 Oct 13:47

Ramco Systems Gains 6%; BSE IT Index Down 0.2%Image source: phive2015/www.istockphoto.com

Ramco Systems share price has zoomed 6% and is presently trading at Rs 417.5.

Meanwhile, the BSE IT index is at 43,179.4 (down 0.2%).

Among the top gainers in the BSE IT index today are Firstsource Solutions (up 4.7%) and Mastek (up 4.2%).

Wipro (down 2.4%) and Sonata Software (down 1.8%) are among the top losers today.

Over the last one year, Ramco Systems has moved up from Rs 307.7 to Rs 417.5, registering a gain of Rs 109.8 (up 35.7%).

On the other hand, the BSE IT index has moved up from 32,908.1 to 43,179.4, registering a gain of 31.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 185.2%), Firstsource Solutions (up 100.5%) and PERSISTENT SYSTEMS (up 95.2%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 81,798.9 (down 0.2%).

The top losers among the BSE Sensex today are Bajaj Finance (down 2.3%) and Tata Steel (down 1.9%). The most traded stocks in the BSE Sensex are Tata Steel and Reliance Ind..

In the meantime, NSE Nifty is at 25,064.1 (down 0.3%). Bajaj Auto and Bajaj Finance are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 66,473.1 to 81,798.9, registering a gain of 15,325.8 points (up 23.1%).

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 -7.2.


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