Ramco Systems gains on winning order from GE

Ramco Systems rose 3.15% to Rs 802 at 14:12 IST on BSE after the company announced that its payroll software is being implemented by GE for integrating operations across the Middle East.

The announcement was made during trading hours today, 12 October 2015.

Meanwhile, the BSE Sensex was down 144.09 points, or 0.53%, to 26,935.42

On BSE, so far 36,824 shares were traded in the counter, compared with an average volume of 12,819 shares in the past one quarter.

The stock hit a high of Rs 829.50 and a low of Rs 776 so far during the day. The stock hit a record high of Rs 1,113 on 5 August 2015. The stock hit a 52-week low of Rs 410.05 on 17 October 2014.

The stock had outperformed the market over the past one month till 9 October 2015, surging 8.97% compared with 5.29% rise in the Sensex. The scrip, however, underperformed the market in past one quarter, falling 11.6% as against Sensex's 1.79% decline.

The small-cap company has an equity capital of Rs 29.84 crore. Face value per share is Rs 10.

With this implementation, Ramco Systems' end to end payroll solution is all set to provide modules for Payroll, Taxes, Time & Attendance, Leave Management, Loans & Reimbursements and Self Service to GE's growing employee base in the region, thus providing automation for GE MENA with comprehensive integration of various HR processes of the organization. Ramco Systems' HR & Payroll will integrate HR operations across UAE, Kingdom of Saudi Arabia, Bahrain, Oman, Kuwait, Qatar, Iraq, Morocco and Yemen in the region, thus eliminating manual interventions, the company said.

On a consolidated basis, Ramco Systems reported net profit of Rs 7.14 crore in Q1 June 2015 as against net loss of Rs 2.87 crore in Q1 June 2014. Net sales rose 33.6% to Rs 102.65 crore in Q1 June 2015 over Q1 June 2014.

Ramco Systems provides next generation, end-to-end enterprise solutions that render complete transformation of the business in real time. The company offers ERP, EAM, Fleet Management, HCM, CRM, Financials, Service Management, Process Control, Project Management and Analytics to multiple verticals on the most appropriate cloud modelpublic, private and community.

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