Ramco Systems jumped 5.97% to Rs 521 at 14:05 IST on BSE after the company said that SUEZ, a world leader in the sustainable management of resources, chose Ramco HCM for its middle east operations.
The announcement was made during market hours today, 12 December 2017.Meanwhile, the S&P BSE Sensex was down 169.72 points or 0.51% at 33,286.07. The S&P BSE Small-Cap index was down 52.42 points or 0.29% at 18,199.35, outperforming the Sensex.
Higher than usual volumes were witnessed on the counter. On the BSE, 58,569 shares were traded on the counter so far as against the average daily volumes of 12,396 shares in the past one quarter. The stock had hit a high of Rs 530 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 497 so far during the day. 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 11 December 2017, advancing 16.15% compared with the Sensex's 0.42% rise. The scrip had also outperformed the market over the past one quarter gaining 20.71% as against the Sensex's 4.94% rise. The scrip had also outperformed the market over the past one year jumping 58.49% as against the Sensex's 25.08% rise.
The small-cap company has equity capital of Rs 30.52 crore. Face value per share is Rs 10.
Ramco Systems announced an order win from SUEZ Middle East Water Services LLC, part of Suez, a French-based utility company which is present on all five continents in the water treatment and waste management sectors, to automate human resource (HR) operations of its Middle East operations.
Ramco will deploy its HCM with global payroll solution to integrate the HR and payroll processes spread across 8 entities in 3 locations of Middle East.
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SUEZ will implement modules for core HR (employee records and movements, travel & expenses), payroll (reimbursements and employee self service), time and attendance (leave management), performance management and recruitment (recruitment administration and onboarding). In addition to enabling automation and centralization of HR processes across GCC, the application will centralize payroll on a single platform thus significantly reducing the payroll processing time.
Ramco Systems reported consolidated net profit of Rs 6.50 crore in Q2 September 2017 compared with net loss of Rs 1.10 crore in Q2 September 2016. Net sales rose 2.5% to Rs 115.15 crore in Q2 September 2017 over Q2 September 2016.
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 human capital management (HCM) and global payroll, enterprise resource planning (ERP) and M&E MRO for aviation.
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