Ramco Systems hits 52-week high after getting order from a Global Fortune 500 major

Ramco Systems today announced that it has signed a multi-million-dollar agreement with a Global Fortune 500 major to unify & transform its payroll for 18 countries in the Asia-Pacific region on Ramco’s managed payroll services. 

Reacting to this, the stock of Ramco Systems today jumped 10 per cent and made an intraday high of Rs 620.55 per share. 

The company reported a net profit of Rs 16.71 crore in Q2FY21, an increase of 126.12 per cent. Meanwhile, it had reported a profit of Rs 7.39 crore in Q1FY21. Besides, the company reported a total income of Rs 165.09 crore for Q2FY21, an increase of 9.01 per cent as against the total income of Rs 151.44 crore for Q1FY21. 

According to BSE data, the stock traded at a price-to-book ratio of 2.04. The stock has a 52-week high and a 52-week low of Rs 620.55 per share and Rs 64.10 per share, respectively. 

Ramco Systems is engaged in computer programming & consultancy as well as hosting and related activities. The company also offers software solutions and services. 

At 2.03 pm today, the share of Ramco Systems was trading at Rs 612 per share on BSE, up by 8.48 per cent.