 "Markets, Investors")
Shares of Kellton Tech Solutions zoomed 16.16 per cent to Rs 108.5 per share, also their 52-week high, on the BSE in Monday's intraday trade after the company won a "mega" order from Life Insurance Corporation (LIC).
"LIC decided to partner with Kellton to integrate and oversee its HRMS portal, forming a robust union between Kellton's extensive experience in handling large-scale projects and the innovative PeopleStrong HR-Tech product. This exhaustive system aims at every aspect of HR operations - from recruitment to retirement, aiming to transform the management of LIC's vast employee and retiree base," Kellton Tech said in an exchange filing earlier today.
Under the collaboration, Kellton will transform the HRMS landscape of LIC, leveraging the cutting-edge capabilities of PeopleStrong's product. The engagement encompasses seamless data integration, ensuring smooth transition, and optimisation alongside legacy applications.
The engagement will impact over 150,000 LIC employees, empowering them with advanced HR solutions that promise heightened efficiency and performance.
According to the statement, the partnership aligns seamlessly with LIC's objectives, marking a significant stride in shaping the future of HR transformation within LIC and the broader Indian technology industry.
"We're delighted to be chosen by LIC in their digital transformation journey. Our expertise in implementing the SaaS-based HRMS solution has positioned us to secure a contract of unprecedented global size and scale," commented Karanjit Singh, CEO, APAC, Kellton.
At 1:50 PM, Kellton Tech was trading 10.76 per cent higher to Rs 103.45 per share as against 0.2 per cent dip in the benchmark S&P BSE Sensex.
Over the past one year, shares of the global technology consulting and IT services company have surged 61 per cent on the BSE as against 15-per cent rise in the Sensex index.
From its 52-week low of Rs 40.53, touched on March 31 on intraday basis, the stock has leaped 130.4 per cent. By comparison, the BSE Sensex is up 25 per cent from its 52-week low.
Kellton Tech Solutions is a IT services company which helps companies build disruptive digital solutions. With operations across the US, Europe, India, and the Asia Pacific, and a global team of over 1,800 employees, Kellton enables clients to use technology as their competitive advantage.
