Ramco Systems rose 11.70% to Rs 416.10 at 11:01 IST on BSE after the company said it won a multi-million dollar payroll transformation order from a British multinational banking & financial services company.
The announcement was made during trading hours today, 24 October 2017.Meanwhile, the S&P BSE Sensex was up 111.84 points, or 0.34% to 32,618.56.
On the BSE, 46,000 shares were traded in the counter so far, compared with average daily volumes of 9,484 shares in the past one quarter. The stock had hit a high of Rs 428.90 and a low of Rs 377.50 so far during the day. The stock hit a 52-week high of Rs 500 on 10 November 2016. The stock hit a 52-week low of Rs 286 on 14 December 2016.
The stock had underperformed the market over the past one month till 23 October 2017, falling 8.39% compared with 1.83% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.12% as against Sensex's 0.86% rise. The scrip had also underperformed the market in past one year, falling 20.95% as against Sensex's 15.36% rise.
The small-cap company has equity capital of Rs 30.47 crore. Face value per share is Rs 10.
Ramco Systems announced that it has won a multi-million dollar Payroll Transformation order from one of the FTSE 100 constituent and British Multinational Banking & Financial Services company. Ramco will enable the banking, financial services and insurance (BFSI) major in consolidating its multi-country payroll on a unified platform and provide managed payroll services for its associates spread across 14 countries.
With Ramco's global payroll platform, the BFSI major will derive benefits of a unified payroll processing system which will effectively and efficiently handle operations of 8500+ employees across Asia covering Vietnam, Brunei, Bangladesh, Sri Lanka & Nepal; and the Middle East covering Iraq, Bahrain, Oman, Qatar, Saudi Arabia, Egypt, Lebanon, Jordan and UAE in Phase 1. The scope includes providing payroll, taxes, time & attendance, leave management, loans and reimbursements and self service.
On consolidated basis, Ramco Systems reported net loss of Rs 3 crore in Q1 June 2017 compared with net profit of Rs 8.02 crore in Q4 March 2017. Net sales fell 3.47% to Rs 110.34 crore in Q1 June 2017 over Q4 March 2017.
Ramco Systems is a fast-growing enterprise software player disrupting the market with its multi-tenant 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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