The board of Ramco Systems met the previous day to consider raising of funds by way of issue of shares and/or warrants convertible into equity shares. The board decided on the issuance of warrants as well as equity shares.

In Lykis, Kedia reduced his stake from 9.3% in June quarter to 2.7% in September quarter. He now holds a total of 5,24,710 shares, estimated to be worth around Rs 2.5 crore.

Ramco Systems, aviation, aerospace and defence, chief customer officer, Manoj Kumar Singh said, "securing the trust of a world leader in unmanned aerial systems is a landmark achievement for Ramco, and reflects the flexibility of Ramco software in catering to this unique segment..."

With deep functional and technical capabilities, the solution will integrate GA-ASIs operations globally, and enable the SGSS program to support its customers for parts management, aircraft fleet management, and supply chain, in support of their MQ-9B SkyGuardian remotely piloted aircraft (RPA) operations, the company said.

"The cost for IT companies has increased due to higher attrition rate, inflated compensation and increased travelling cost which have hurt the operational performance and margins of the IT sector, neutralising the windfall gains of weak rupee," Bathini added.

The buyers converged at the stock after heavy selling in the last few days made it appetizing. It still trades down over 13 per cent from issue price of the IPO. The market cap of the firms stands at Rs 5,21,021.69 crore.

In an exclusive interview with Moneycontrol, the Ramco chairman spoke in detail about Ramco Cements and Ramco Systems, the group’s top revenue earners.

Local media reports said the authorities have increased the price of 1,000 ml liquor by Rs 120. The price of a quarter bottle has been hiked by Rs 20. On all types of beer, there was a minimum hike of Rs 10 per bottle, reported Telangana Today.

The Nifty Auto index closed 0.11 per cent down at 10472.45.

The Nifty Bank index closed 0.6 per cent up at 34482.65.

The Nifty IT index closed 1.0 per cent down at 30427.2.

The Nifty Pharma index closed 1.48 per cent down at 12596.3.

Majority of the laggards have been hit by rich valuations, muted earnings, abysmal corporate governance and destitute fundamentals, whereas scanty consumer demand has the others.

For the half year period ending September 30, 2021, standalone loss was at Rs 233.41 million as against a standalone net profit at Rs 171.19 million, the company said in a statement.

Shares of Ramco Systems tanked over 13 per cent to Rs 538.20 on Thursday.

The market will continue to focus on covid numbers to pump in more optimism into the market due to a relatively quiet week for economic data,” said Vinod Nair, Head of Research at Geojit Financial Services.

The digital transformation will consolidate and standardise processes of MMCs ports.

“The entire IT sector could easily deliver a mid-teen type of earnings growth over the next three to five years.”

Dolat Capital Market recommended accumulate rating on Ramco Systems with a target price of Rs 700 in its research report dated February 05, 2021.

Ramco will also use HEREs routing APIs to compute accurate ETAs (expected time of arrival) based on historic and real-time traffic conditions, movement of hazmat materials as well as truck attributes.