ICRA reaffirms credit ratings of Ramco Systems

India Infoline News Service | Mumbai | July 11, 2017 09:19 IST

Ramco System on Monday’s post market hours announced that leading rating agency, ICRA has reaffirmed the long-term and short-term ratings for the bank facilities of the company.

Ramco System
Ramco System on Monday’s post market hours announced that leading rating agency, ICRA has reaffirmed the long-term and short-term ratings for the bank facilities of the company.

The long-term fund based facilities amounting Rs 25 crore has been reaffirmed with A-, short term fund based facilities amounting Rs 42 crore has been reaffirmed A2+, while the short term non-fund based facilities amounting Rs 25.50 crore has been reaffirmed with A2+.

The company's long term/short term unallocated facilities amounting Rs 43 crore has been reaffirmed with A- (stable)/A2+, it said in a regulatory filing.

Ramco Systems is engaged in computer programming, consultancy and related activities, and hosting and related activities. The company offers software solutions and services.


Stock view:

Ramco Systems Ltd is currently trading at Rs 340, up by Rs 3.15 or 0.94% from its previous closing of Rs 336.85 on the BSE.

The scrip opened at Rs 340 and has touched a high and low of Rs 340 and Rs 340 respectively. So far 272(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1025.2 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 706 on 11-Jul-2016 and a 52 week low of Rs 286 on 15-Dec-2016. Last one week high and low of the scrip stood at Rs 349 and Rs 324.3 respectively.

The promoters holding in the company stood at 55.01 % while Institutions and Non-Institutions held 22.59 % and 22.4 % respectively.

The stock is currently trading below its 200 DMA.


***Note: This is a NSE Chart

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