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Shares of Ramco Systems on the BSE on Thursday breached the 20 per cent upper circuit at ₹936.75 on a day when it got an order from Australian coffee manufacturer for its mobile-based Enterprise Resource Planning software.
The company’s shares started trading at ₹781.25. There was a spurt in the volume by 9.36 times, according to data available with the BSE.
Stock price of the Chennai-based software company has risen by nearly four times in the last one year. Sources said it could be due to positive financial results in the last three quarters.
In the last one year, the company’s market capitalisation increased by nearly four times to ₹2,774.93 crore, according to BSE data.
On Thursday, the Australian manufacturer and coffee supplier FreshFood Management Services signed a pact with Ramco Systems to replace its legacy system with a mobile-based ERP.
FreshFood will implement a comprehensive ERP suite, including finance, supply chain, production, maintenance, sales and shipping, and CRM. It also plans to implement Equipment Rental Management software from Ramco, the release said.
Virender Aggarwal, CEO, said the company has been strengthening its foothold in the Australasian region.
As a relatively new vendor in the market, Ramco beat global brands and is replacing a well-established legacy vendor at FreshFood. “With cloud and post-modern ERP gaining traction, there is a good market opportunity opening up for replacement of legacy systems,” he said.
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