Ramco Systems rose 2.34% to Rs 420 at 9:22 IST on BSE, with the stock extending recent rally triggered by the company securing a five-year contract from the Asia division of Vopak for a HR integration system.
Meanwhile, the S&P BSE Sensex was up 38.95 points or 0.15% at 26,353.24.
On BSE, so far 785 shares were traded in the counter as against average daily volume of 12,000 shares in the past two weeks.
The stock hit a high of Rs 428.70 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 420 so far in the day.
Shares of Ramco Systems have rallied 12.81% in three trading sessions from Rs 372.30 on 18 August 2014, after the company during market hours on Tuesday, 19 August 2014, said it has secured a five-year contract from the Asia division of Vopak for a HR integration system. Ramco Systems said it has secured a five-year contract from the Asia division of Vopak, the world's largest independent tank storage provider, to integrate a part of its regional Human Resource functions into a single platform. Ramco will offer its HRO (Human Resource Outsourcing) services on top of Ramco's HCM (Human Capital Management) product which is being used by leading multinationals globally.
Vopak, headquartered in the Netherlands, operates 79 terminals in 29 countries, with the Asia division accounting for 26 terminals in 10 countries.
Ramco Systems reported a consolidated net loss of Rs 2.87 crore in Q1 June 2014, lower than net loss of Rs 9.34 crore in Q1 June 2013. Net sales rose 29.5% to Rs 76.82 crore in Q1 June 2014 over Q1 June 2013.
Ramco Systems provides next-generation, end-to-end enterprise solutions that render complete transformation of the business in real time.
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