Ramco Systems rose 3.44% at Rs 203 at 10:20 IST on BSE after the company said it will issue 79.58 lakh shares on rights basis in the ratio of 1:2 at Rs 155 per share.
The announcement was made before market hours today, 10 April 2014.
Meanwhile, the S&P BSE Sensex was up 21.88 points or 0.1% at 22,724.22.
On BSE, so far 1,245 shares were traded in the counter as against average daily volume of 7,356 shares in the past one quarter.
The stock hit a high of Rs 206.05 and a low of Rs 203 so far during the day. The stock had hit a 52-week high of Rs 250.40 on 7 March 2014. The stock had hit a 52-week low of Rs 67.55 on 4 July 2013.
The stock had underperformed the market over the past one month till 9 April 2014, declining 19.91% compared with the Sensex's 3.57% rise. The scrip had also underperformed the market in past one quarter, advancing 1.29% as against Sensex's 9.6% rise.
The small-cap company has equity capital of Rs 15.92 crore. Face value per share is Rs 10.
Ramco Systems said that a meeting of the Rights Issue 2013 Committee of the Board of Directors was held on Wednesday, 9 April 2014 to consider the terms of the rights issue and for fixing the record date. Accordingly, the rights issue size was set at 79.58 lakh shares with rights entitlement ratio pegged at 1:2, i.e. one equity share for every two fully paid-up equity shares held as on the record date. The rights issue price was set at Rs 155 per rights equity share. The issue opening date is 5 May 2014 and closing date is 19 May 2014 (The issue closing date may be extended by the Committee to an extent that the issue remains open for a period not exceeding 30 days from issue opening date), the company said. All the equity shares to be issued pursuant to the issue shall rank pari passu with the existing equity shares of the company, Ramco Systems said.
Ramco Systems during trading hours on Wednesday, 9 April 2014 said that Ramo ERP on Cloud secured order from MHW, a leading US-based service provider for wine, spirits, and malt beverage product companies in the US.
Ramco Systems said that MHW has spent decades perfecting a transparent back-office service model to help its clients (both alcohol manufacturers and distributors) with a cost effective and efficient approach to conducting business in the US beverage alcohol industry. MHW was looking for a comprehensive and integrated solution that would address the entire spectrum of its business processes from sales and distribution, CRM, supply chain, compliance, to accounting, Ramco Systems said in a statement.
Once implemented, MHW aims at bringing all its business functions on to a common IT platform, with the objective of increasing customer satisfaction, reducing operational costs, ensuring quicker turnaround times and bringing cost effectiveness., Ramco said in a statement.
MHW is the foremost solutions partner for both aspiring and seasoned brands in the spirits, wine and beer industry. As a nationally licensed importer, distributor, and service provider since 1934, MHW's state-of-the-art back-office capabilities help brands navigate the US market. MHW is headquartered in Manhasset, New York with additional operations in California, New Jersey, and other key markets.
Separately, Ramco Systems and Schneider Electric in joint statement issued on Tuesday, 8 April 2014 said that Schneider Electric, a global specialist in energy management, has entered into a strategic partnership with Ramco Systems, an enterprise software product company. The partnership will see Ramco's Advanced Process Optimization software, OPTIMA, become an important part of Schneider Electrics solutions for the cement industry and strategically help explore business opportunities, a combined statement from Ramco and Schneider said.
With cement manufacturers focusing their efforts on reducing energy and emissions, improving overall performance and managing consistent product quality grade, plant operators are looking for solutions that stabilize the production process and maintain the optimal operation point for minimal effect on the environment. Schneider Electric's strategic partnership with Ramco will deliver this much required solution, with a specific focus on optimization of kiln and mill operations, to its cement customers, the statement said. The solution will support increased production volumes, promote the ease and uptake of alternative fuels and support human operators to make the best decisions for changing operating conditions, the statement said.
OPTIMA is an advanced process optimization solution that has been designed to improve plant productivity and efficiency and leverages technologies like fuzzy logic, regression analysis and artificial intelligence techniques to offer the best in class optimization solutions.
As a global specialist in energy management with operations in more than 100 countries, Schneider Electric offers integrated solutions across multiple market segments.
Ramco Systems reported a consolidated net loss of Rs 5.49 crore in Q3 December 2013, lower than net loss of Rs 6.94 crore in Q3 December 2012. Net sales rose 2.2% to Rs 67.65 crore in Q3 December 2013 over Q3 December 2012.
Ramco Systems provides next generation, end-to-end enterprise solutions that render complete transformation of the business in real time.
Powered by Capital Market - Live News
