Ramco Techniques freezes at 5% higher circuit on order win from logistics main

2020/09 30 08:09

Shares of have been locked within the higher circuit restrict of 5 per cent at Rs 426 on the BSE on Wednesday after the corporate mentioned it has signed up an settlement with a “International high 5 logistics main” for modernising and reworking its multi-country Payroll operations on the corporate’s world payroll platform.

“The logistics main shall be unifying its payroll operations for 15 international locations throughout the Center East & Africa. With this win, Ramco International Payroll is now trusted by two of the highest 10 third occasion logistics corporations, globally,” the firm mentioned in an change submitting.

Until 01:40 pm, a mixed round 700,000 fairness shares had modified arms and there have been pending purchase orders for 53,000 shares on the NSE and BSE, the change information reveals.

Final month, had signed up a multi-million greenback settlement with a number one utility and infrastructure Group with diversified companies in Malaysia for delivering Group-wide digital transformation spanning throughout its ports and logistics operations. With this win, Ramco’s enterprise platform will assist in managing greater than 50 per cent of all port operations in Malaysia.

The inventory of the IT consulting & software program firm was buying and selling at its recent 52-week excessive. Up to now month, it has rallied 69 per cent, as in comparison with a three.6 per cent decline within the S&P BSE Sensex. Whereas, in three months, the inventory has zoomed 288 per cent towards 9 per cent acquire within the benchmark index.

On August 26, HDFC Mutual Fund had acquired 157,337 fairness shares, representing zero.51 per cent of the fairness of Ramco Techniques, at a value of Rs 240 per share on the NSE, bulk deal information reveals. The names of the sellers weren’t ascertained instantly.

In a disclosure to the inventory change, HDFC Mutual Fund mentioned there was a rise within the shareholding of the by the Schemes of HDFC Mutual Fund by 2.25 per cent as of August 26, 2020. As of August 26, 2020, the combination holding of the Schemes of HDFC Mutual Fund within the Firm is eight.65 per cent of the paid-up fairness share capital of the corporate, it mentioned.

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