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Ramco Systems Plunges 5%; BSE IT Index Up 0.5%
Mon, 7 Oct 10:28

Ramco Systems Plunges 5%; BSE IT Index Up 0.5%Image source: KanawatTH/www.istockphoto.com

Ramco Systems share price has plunged 5% and is presently trading at Rs 365.2.

Meanwhile, the BSE IT index is at 42,565.7 (up 0.5%).

Among the top losers in the BSE IT index today are INFIBEAM AVENUES (down 4.7%) and Tata Elxsi (down 2.1%).

LTIMINDTREE (up 2.4%) and Mphasis (up 2.3%) are among the top gainers today.

Over the last one year, Ramco Systems has moved up from Rs 315.5 to Rs 365.2, registering a gain of Rs 49.7 (up 15.8%).

On the other hand, the BSE IT index has moved up from 31,998.7 to 42,565.7, registering a gain of 33.0% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 168.7%), Firstsource Solutions (up 85.4%) and PERSISTENT SYSTEMS (up 81.9%).

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

What About the Benchmark Indices?

The BSE Sensex is at 81,917.8 (up 0.3%).

The top gainers among the BSE Sensex today are ITC (up 1.7%) and ICICI Bank (up 1.5%). The most traded stocks in the BSE Sensex are Tata Steel and Bharti Airtel.

In the meantime, NSE Nifty is at 25,049.5 (up 0.1%). ITC and ICICI Bank are among the top gainers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,512.1 to 81,917.8, registering a gain of 16,405.7 points (up 25.0%).

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 -6.3.

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