Ramco Systems hit an upper circuit of 5% at Rs 493.10 after the company said it bagged an order from Toll Logistics to transform supply chain operations of its chemicals division in Australia and New Zealand.
Toll Logistics, one of Asia Pacific's leading integrated logistics services provider with operations in road, rail, sea, air and warehousing, has chosen Ramco Logistics ERP to transform the complete supply chain operations of its chemicals business division in Australia and New Zealand. In addition, Ramco Logistics will also be rolled out as a unified out-of-the-box ERP across its new businesses in Asia. The announcement was made during trading hours today, 6 October 2020.The Ramco Systems scrip is currently frozen at its 52-week high level. It has soared 669.26% from its 52-week low of Rs 64.10 hit on 21 May 2020.
The stock has zoomed 71.39% in the past one month while the Nifty IT index rose 14.79% during the same period.
Ramco Systems is an enterprise software, offering cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.
The IT firm's consolidated net profit surged 380.7% to Rs 14.18 crore on a 4% increase in net sales to Rs 145.25 crore in Q1 June 2020 over Q1 June 2019.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU