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Ramco Systems Gains 5%; BSE IT Index Up 2.1%
Wed, 23 Oct 14:35

Ramco Systems Gains 5%; BSE IT Index Up 2.1%Image source: StarLineArts/www.istockphoto.com

Ramco Systems share price has zoomed 5% and is presently trading at Rs 396.1.

Meanwhile, the BSE IT index is at 42,267.1 (up 2.1%).

Among the top gainers in the BSE IT index today are Firstsource Solutions (up 12.1%) and Coforge (up 11.6%).

KPIT TECHNOLOGIES (down 2.4%) and TANLA SOLUTIONS (down 1.7%) are among the top losers today.

Over the last one year, Ramco Systems has moved up from Rs 267.5 to Rs 396.1, registering a gain of Rs 128.6 (up 48.1%).

On the other hand, the BSE IT index has moved up from 31,255.0 to 42,267.1, registering a gain of 35.2% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 186.8%), Firstsource Solutions (up 120.1%) and PERSISTENT SYSTEMS (up 97.1%).

Don't Miss: Key Information for Long-term Investors

What About the Benchmark Indices?

The BSE Sensex is at 80,195.5 .

The top losers among the BSE Sensex today are M&M (down 2.7%) and NTPC (down 2.2%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,455.7 (down 0.1%). M&M and NTPC are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 64,571.9 to 80,195.5, registering a gain of 15,623.6 points (up 24.2%).

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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