Ramco Systems zooms 91% in 5 days after investor Vijay Kedia picks 1% stake

Shares of Ramco Systems were locked in the 10 per cent upper circuit band for the fifth straight day, at Rs 146.70 on the National Stock Exchange (NSE) on Tuesday. The stock has surged over 90 per cent in the past one week after investor Vijay Kedia acquired a stake in the company via open market last week.

The stock of the IT consulting & software company has zoomed 91 per cent in the past five trading days from a level of Rs 76.65 on touched June 9, 2020.

On June 10, 2020, ace investor Vijay Kishanlal Kedia purchased 339,843 shares, representing 1.1 per cent of the total equity of Ramco Systems, for about Rs 3 crore. He bought these shares at an average price of Rs 87.82 per share through a block deal on the NSE, the exchange data shows.