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Ramco Systems soars 20% on the bourses

The company said it will concentrate on the US market over the next two years to promote its human resource management software.

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SI Reporter Mumbai
Last Updated : Nov 18 2013 | 11:42 AM IST
Ramco Systems is locked in upper circuit of 20% at Rs 130 on BSE after IT consulting and software firm said it will concentrate on the US market over the next two years to promote its human resource management software.

A combined 31,231 shares have already changed hands and there are pending buy orders for around 16,000 shares on BSE and NSE at 1130 hours.

The company which has been focusing more on aviation, ERP (Enterprise resource planning) and HCM (human capital management) sectors, is also planning to acquire a 'business partner' for launching its HCM product in the US.

The HR suite, which is delivered over the cloud, is seeing a sizeable demand in the West Asian and African markets where it was launched recently, Ramco Systems said in a statement.

The company has won orders from six companies in West Asia, including retail chain Sharaf DG, over the last five weeks.

The HR suite provides software for scheduling interviews, enrolling new recruits, records for attendance, leave, payroll and appraisal among other things.

Meanwhile, the company is awaiting market regulator SEBI's nod for its proposed Rs 120 crore rights issue to meet its capital requirements, the PTI report suggests.
 

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First Published: Nov 18 2013 | 11:39 AM IST

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