Ramco Systems jumps after order win

Ramco Systems jumped 5.49% to Rs 174.80 after the company secured a multi-million-dollar global payroll and workforce management deal from a leading Australian University.

With this win, Ramco will be expanding its foothold in the higher education vertical which is witnessing good demand for HR & payroll transformation. Ramco will be partnering with a leading global consulting firm to implement its multi-country payroll solution while will also offer workforce management solution in partnership with an Australian headquartered cloud based WFM provider, thereby providing an integrated payroll and workforce management solution. The announcement was made during trading hours today, 8 January 2020.

On consolidated basis, Ramco Systems' net profit surged 153.89% to Rs 7.49 crore on 6.88% rise in net sales to Rs 149.28 crore in Q2 September 2019 over Q1 June 2019.

Ramco Systems is engaged in computer programming, consultancy and related activities, and hosting and related activities. The company offers software solutions and services. Ramco Logistics Software caters to logistics-third party logistics (3PL), freight forwarders and network service providers

Currently, the stock is trading 37.12% below its 52-week high of Rs 278 hit on 09 January 2019. It is 30% above its 52-week low of Rs 134.4 hit on 12 December 2019.

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