Ramco Systems share price hits new 52-week high on signing multi-million dollar deal

Ramco Systems | Company reported profit at Rs 16.93 crore in Q2FY21 against Rs 14.18 crore, revenue jumped to Rs 159.8 crore from Rs 145.2 crore QoQ. (Image: ramco.com)

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Ramco Systems share price jumped over 9 percent intraday on December 23 after the company bagged a multi-million dollar deal.

We are pleased to intimate you that Ramco Systems has signed a multi-million-dollar agreement with a Global Fortune 500 major to unify and transform its Payroll for 18 countries in Asia Pacific region on Ramco’s Managed Payroll Services, the company said in an exchange filing.

The stock was trading at Rs 616.10, up Rs 51.95, or 9.21 percent at 14:01 hours. It has touched a 52-week high of Rs 620.55.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: Price above short, medium and long term moving averages. The company has zero promoter pledge with FII / FPI or institutions increasing their shareholding.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​​