The Hindu Business Line : Ramco Systems jumps

The stock closed at Rs 545.35 (Rs 509.50), after touching the intra-day high of Rs 555.50 on the BSE. It attracted volumes of 2.65 lakh shares (1.21 lakh shares) on the BSE and 7.87 lakh shares (3.02 lakh shares) on the NSE. Of the traded shares, only about 7.58 per cent was presented for delivery on the BSE and 6.84 per cent on the NSE.

According to brokers and analysts, the stock with a negative earnings per share, has seen backing of a prominent Mumbai-based operator in the last few months.

From a low of Rs 373 on January 3, the stock touched a high of Rs 615, the 52-week peak, on January 24. From there, it slipped to Rs 459 on February 14. In the past few months it has also been noticed that the stock's movement is preceded by unconfirmed but widely circulated `news' in the market circles regarding obtaining a new order. On earlier two occasions, the stock had such order triggers — one from Tirumala Tirupati Devasthanams and from Andhra Pradesh Government.

For the nine months ended December 2002, the net loss of Ramco Systems has widened to Rs 23.9 crore as compared to Rs 14.7 crore in corresponding period of the previous fiscal.

"In the fourth quarter of FY02, the company had reported a positive earning but failed to sustain it in the following quarters. The operating profit margins continue to be negative," Ms Priya Madani of Anagram Stockbroking pointed out.

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