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Ramco Systems Gains 9%; BSE IT Index Down 1.0%
Thu, 8 Aug 11:31

Ramco Systems Gains 9%; BSE IT Index Down 1.0%Image source: Sakorn BernardaSv/www.istockphoto.com

Ramco Systems share price has zoomed 9% and is presently trading at Rs 397.1.

Meanwhile, the BSE IT index is at 39,559.0 (down 1.0%).

Among the top gainers in the BSE IT index today are ROUTE MOBILE (up 7.3%) and Oracle Financial Services (up 1.8%).

Infosys (down 2.1%) and LTIMINDTREE (down 1.8%) are among the top losers today.

Over the last one year, Ramco Systems has moved up from Rs 293.8 to Rs 397.1, registering a gain of Rs 103.4 (up 35.2%).

On the other hand, the BSE IT index has moved up from 31,109.7 to 39,559.0, registering a gain of 27.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 157.9%), INFIBEAM AVENUES (up 125.1%) and Firstsource Solutions (up 96.4%).

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

What About the Benchmark Indices?

The BSE Sensex is at 79,162.9 (down 0.4%).

The top losers among the BSE Sensex today are Infosys (down 2.1%) and Power Grid Corp. (down 2.0%). The most traded stocks in the BSE Sensex are Tata Steel and Tata Motors.

In the meantime, NSE Nifty is at 24,197.2 (down 0.4%). BPCL and Infosys are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,953.5 to 79,162.9, registering a gain of 13,209.4 points (up 20.0%).

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 -6.9.

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