Shares of Ramco Systems were frozen in 5 per cent upper circuit for the second straight on Friday at Rs 275 on the BSE in an otherwise weak market. as compared , the S&P BSE Sensex was down 1.4 per cent at 38,546 points, at 12:07 pm.
The stock of the knowledge technology (IT) consulting & software firm was trading at its 52-week high level. within the past month, it's rallied 105 per cent, as compared to 2 per cent rise within the S&P BSE Sensex. While, in three months, the stock has zoomed 277 per cent against 13 per cent gain within the benchmark index.
Till 12:17 pm, a combined 399,000 equity shares had changed hands on the counter and there have been pending buy orders for 85,000 shares on the NSE and BSE, exchange data shows.
Last week, on August 26, HDFC open-end fund had acquired 157,337 equity shares, representing 0.51 per cent of the equity of Ramco Systems at price of Rs 240 per share on the NSE, bulk deal data shows. The name of sellers wasn't ascertained immediately.
In disclosure to stock market , HDFC open-end fund said there has been a rise within the shareholding of the Ramco Systems by the Schemes of HDFC open-end fund by 2.25 per cent as of August 26, 2020.
As on August 26, 2020 the mixture holding of the Schemes of HDFC open-end fund within the Company is 8.65 per cent of the paid up equity share capital of the corporate , it said.
Meanwhile, on August 25, Ramco Systems said that it's signed up a multi-million Dollar agreement with a number one utilities and infrastructure Group with diversified businesses in Malaysia for delivering Group-wide Digital Transformation spanning across its ports and logistics operations. With this win, Ramco’s enterprise platform will support in managing quite 50 per cent of all port operations in Malaysia.
Earlier, on June 10, 2020, ace investor Vijay Kishanlal Kedia had purchased 339,843 shares, representing 1.1 per cent of the entire equity of Ramco Systems, for about Rs 3 crore. He bought these shares at a mean price of Rs 87.82 per share through a block deal on the NSE, the exchange data shows. Vijay Kedia had nil holding within the company till the top of December quarter, shareholding pattern data shows.