Ramco Systems jumped 5.12% to Rs 361.30 at 14:20 IST on BSE after the company announced that it has secured an order from one of the global top 5 aircraft original equipment manufacturers, for its joint venture in China.
The company made the announcement during market hours today, 22 August 2017.Meanwhile, the S&P BSE Sensex was up 42.51 points or 0.14% at 31,301.36. The S&P BSE Small-Cap index was down 105.92 points or 0.68% at 15,361.95.
On the BSE, 15,087 shares were traded on the counter so far as against the average daily volumes of 14,735 shares in the past one quarter. The stock had hit a high of Rs 366.35 and a low of Rs 344 so far during the day. The stock had hit a 52-week high of Rs 563.40 on 25 August 2016 and a 52-week low of Rs 286 on 15 December 2016.
The stock had underperformed the market over the past one month till 21 August 2017, falling 13.52% compared with 2.4% decline in the Sensex. The scrip had also underperformed the market in past one quarter, declining 1.67% as against Sensex's 2.61% rise. The scrip had also underperformed the market in past one year, dropping 34.11% as against Sensex's 11.33% rise.
The small-cap company has equity capital of Rs 30.45 crore. Face value per share is Rs 10.
Ramco will help the China based manufacturing centre to embrace latest technology offerings to automate its maintenance & engineering (M&E), supply chain, finance, HCM and payroll functions on a unified platform. In-built mobility and hubs for simplified user experience, the application will enable users to configure and track aircraft components, gain visibility of stock and provide advanced reporting support, in addition to addressing local statutory compliance requirements for HR, payroll & finance.
According to the State Council of China, China is expected to build more than 500 general aviation airports across the country and own more than 5,000 all-purpose aircrafts by 2020. In addition, China is becoming a key supplier of aircraft and component systems.
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On consolidated basis, Ramco Systems reported net loss of Rs 3 crore in Q1 June 2017 compared with net profit of Rs 8.02 crore in Q4 March 2017. Net sales fell 3.47% to Rs 110.34 crore in Q1 June 2017 over Q4 March 2017.
Ramco is a fast-growing enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in the area of HCM and global payroll, ERP and M&E MRO for aviation.
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