Ramco Systems gains after new order win

Ramco Systems rose 0.51% to Rs 377.85 at 12:22 IST on BSE after the company's HCM and Payroll offering was selected by the Transworld Group.

The announcement was made during market hours today, 16 January 2017.

Meanwhile, the S&P BSE Sensex was up 22.55 points, or 0.08%, to 27,260.61

On the BSE, 28,000 shares were traded in the counter so far, compared with average daily volume of 48,401 shares in the past one quarter. The stock had hit a high of Rs 383 and a low of Rs 366.60 so far during the day.

The stock had hit a 52-week high of Rs 814 on 3 May 2016. The stock had hit a 52-week low of Rs 286 on 15 December 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 25.07% compared with the 2.71% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, sliding 20.94% as against Sensex's 1.57% decline.

The small-cap aviation software provider has equity capital of Rs 30.34 crore. Face value per share is Rs 10.

Logistics conglomerate, the Transworld Group, announced that it has chosen Ramco Systems' HCM and Payroll offering to automate its Human Resources hire-to-retire functionality on a single unified platform. Ramco HCM with Global Payroll will cover the entire gamut of HR processes along with Core HR, Recruitment, Talent Management, Leave, Time & Attendance and Payroll for over 1000 employees of the company.

Commenting on the win, Virender Aggarwal, CEO, Ramco Systems said that the company's HCM offering has witnessed massive traction in Middle East across verticals and is continuing to grow winning the trust of leading business conglomerates. Ramco HCM with features like Mobility and Chatbots, will play a pivotal role in digitizing HR processes and improving time-bound operations of the company, Virender Aggarwal said.

Ramco Systems reported consolidated net loss of Rs 1.17 crore in Q2 September 2016 compared with consolidated net profit of Rs 0.9 crore in Q1 June 2016. Consolidated net sales rose 2.48% to Rs 112.39 crore in Q2 September 2016 over Q1 June 2016.

Ramco Systems is an enterprise software player offering multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

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