Trend Reversal: Ramco Systems hits 20 per cent upper circuit after falling to a 52-week low in the last session

Investors should keep this stock on their radar as in the coming days the stock might witness an uptrend.

The shares of Ramco Systems have bounced 20 per cent from its 52-week low of Rs 221.55, which could signal a trend reversal if the market sentiment turns even mildly bullish. Investors should keep this stock on their radar as in the coming days the stock might witness an uptrend. 

The global enterprise software provider has been penalised amid weak market sentiment, as the share price tumbled by 10.78 per cent in the last one week. YTD the shares of Ramco Systems have fallen by 54 per cent. Compared to this, the BSE 500 has corrected by 11.7 per cent YTD and BSE Small cap by 15.91 per cent. 

Part of USD 1 billion Ramco Group, the company has posted unflattering results for Q4 wherein its business saw degrowth with a Net Loss of Rs 26.55 crore. The weak results had further triggered the prevailing bearish sentiment toward IT Stocks. 

However, Ramco System has been focusing on moving towards Active ERP leveraging Artificial Intelligence and Machine Learning to differentiate itself in the marketplace. Recently the company announced that it has successfully gone live at Iraqi Airways, the national carrier of Iraq with its Aviation M&E MRO Suite V5.9. 

At CMP of Rs 269.75, the shares of Ramco Systems have corrected significantly from its 52-week high logged almost a year ago at Rs 686. Investors should keep an eye on Ramco Systems to know if it continues today’s positive momentum.