Ramco Systems rose 10.46% to Rs 464.10 on bargain hunting after a recent selloff.
Shares of Ramco Systems tumbled 11.60% in the past four trading sessions.
On a year-to-date (YTD) basis, the stock has declined 11.32% while the benchmark Sensex has added 24.45% during the same period.
On the technical front, the stock's RSI (relative strength index) stood at 65.14. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 459.04, 452.77 and 423.60, respectively.
On a consolidated basis, Ramco Systems reported net loss of Rs 12.90 crore in Q2 September 2021 as against net profit of Rs 16.71 crore in Q2 September 2020. Net sales declined 11.96% to Rs 140.71 crore in Q2 September 2021 over September 2020.
Ramco Systems is an enterprise software player in the area of Global Payroll and HR, ERP, Logistics and M&E MRO for Aviation.
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