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Ramco Systems freezes at 5% upper circuit on order win from logistics major

The stock of the IT consulting & software company was trading at its fresh 52-week high.

Stock brokers react to the movement share prices on BSE Sensex in Mumbai on January 23. Photo: Kamlesh Pednekar

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On August 26, HDFC Mutual Fund had acquired 157,337 equity shares, representing 0.51 per cent of the equity of Ramco Systems.

SI Reporter Mumbai

2 min read Last Updated : Sep 30 2020 | 1:57 PM IST

Shares of Ramco Systems were locked in the upper circuit limit of 5 per cent at Rs 426 on the BSE on Wednesday after the company said it has signed up an agreement with a "Global top 5 logistics major" for modernising and transforming its multi-country Payroll operations on the company’s global payroll platform.

"The logistics major will be unifying its payroll operations for 15 countries across the Middle East & Africa. With this win, Ramco Global Payroll is now trusted by two of the top 10 third party logistics companies, globally," the company said in an exchange

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