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.
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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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