Ramco Systems jumps after securing multi-year contract

Ramco Systems was locked at 5% upper circuit at Rs 390.90 at 12:38 IST on BSE after the company said it has secured a five-year contract from the Asia division of Vopak for a HR integration system.

The announcement was made during market hours today, 19 August 2014.

Meanwhile, the S&P BSE Sensex was up 12.12 points or 0.05% at 26,403.08.

On BSE, so far 18,000 shares were traded in the counter as against average daily volume of 18,792 shares in the past one quarter.

The stock hit a low of Rs 390 so far in the day.

Ramco Systems said it has secured a five-year contract from the Asia division of Vopak, the world's largest independent tank storage provider, to integrate a part of its regional Human Resource functions into a single platform. Ramco will offer its HRO (Human Resource Outsourcing) services on top of Ramco's HCM (Human Capital Management) product which is being used by leading multinationals globally.

Commenting on this win, Mr. Virender Aggarwal, CEO, Ramco Systems said, "Ramco is deeply committed to providing mobility and intuitive interfaces with differentiated value. This win reaffirms our team's efforts to offer a comprehensive HCM product that is scalable and deployable across a wide region. Our ability to address every need of the HR community with a combination of platform, product and service is helping us get the winning edge in a cluttered market".

Vopak, headquartered in the Netherlands, operates 79 terminals in 29 countries, with the Asia division accounting for 26 terminals in 10 countries.

Ramco Systems reported a consolidated net loss of Rs 2.87 crore in Q1 June 2014, lower than net loss of Rs 9.34 crore in Q1 June 2013. Net sales rose 29.5% to Rs 76.82 crore in Q1 June 2014 over Q1 June 2013.

Ramco Systems provides next-generation, end-to-end enterprise solutions that render complete transformation of the business in real time.

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