Ramco Systems locks into an upper circuit post order win

The shares of Ramco Systems touched a new 52-week high of Rs 493.10 and were locked in the upper circuit on Tuesday after the company announced that it has bagged an order from Toll Logistics, one of Asia Pacific’s leading integrated logistics service providers with operations in road, rail, sea, air & warehousing.

Toll Logistics 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.

Ramco Systems won new orders worth US$ 21.3 million in Q1FY21, taking the unexecuted order book to US$ 164 million. Order intake improved materially after a brief freeze in March 2020, although sales continued to remain largely digital-led only.

Ramco Systems Limited (Ramco) is a holding company engaged in computer programming, consultancy, and related activities.

The stock of Ramco Systems was locked at its upper circuit of 5 per cent after which, the trading was suspended at Rs 493.10 per share, up by 4.99 per cent or Rs 23.45 per share. The stock’s 52-week high is Rs 493.10 and the 52-week low is Rs 64.10 on BSE.