Ramco Systems jumped 6.37% to Rs 370 at 10:20 IST on BSE after the company announced that its Malaysian unit signed multi-million dollar cloud HR & payroll transformation deal with Panasonic Group of companies.
The announcement was made during market hours today, 4 January 2017.Meanwhile, the BSE Sensex was up 55.02 points, or 0.21%, to 26,698.26.
Higher than average volumes were witnessed on the counter. On the BSE, 78,436 shares were traded in the counter so far, compared with average daily volume of 40,473 shares in the past one quarter. The stock had hit a high of Rs 378.60 and a low of Rs 346.50 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 one month till 3 January 2017, rising 6.33% compared with the 1.57% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 26.25% as against Sensex's 5.67% decline.
The small-cap aviation software provider has equity capital of Rs 30.34 crore. Face value per share is Rs 10.
Panasonic Group of companies in Malaysia has signed a multi-million-dollar strategic deal with Ramco Systems Sdn. Bhd. Malaysia part of Ramco Systems to digitize and transform HR and payroll operations for nearly 20,000 employees nationwide on a unified platform.
Panasonic Group of companies in Malaysia, part of the leading Japanese electronics manufacturer, said employees in 21 entities using multiple systems currently will now be powered by integrated Ramco HR software giving a seamless HR experience, group-wide.
Ramco System's Human Capital Management (HCM) solution will integrate with multiple enterprise applications and finance systems in individual companies for statutory and payroll requirements.
Panasonic Group of companies in Malaysia will lead the digital HR transformation initiative with a cloud-hosted Ramco HCM suite covering core HR, time & attendance, talent management, recruitment, planning & analytics in addition to payroll.
With this initiative, the role of HR Management in Panasonic Group will evolve from administrative roles to more strategic and business transformation roles by leveraging the reporting and analytical capabilities of this new system.
On the part of employees by using this new integrated system, all the tedious and time consuming HR processes will be simplified and fully automated. Employees can now be able to apply leave, manage claims, and pull pay slips using self-service features across various platforms including smart phones, tablets and desktops.
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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