Shares of Ramco Systems rallied 8 per cent to scale fresh 52-week high of Rs 616 on the BSE in the intra-day trade on Monday after the company said its various business units have signed large multi-million dollar agreements with multiple companies based in Europe, Asia and America. The company, however, did not disclose the value of the orders win.
In the past two trading days, stock of the IT consulting & services company has risen 19 per cent from the level of Rs 518 hit on Thursday, December 10.
Ramco Aviation, Aerospace & Defense signed an agreement with a leading European MRO (Maintenance, Repair & Overhaul) for delivering full suite Ramco Aviation Software to digitally transform their MRO business, consisting of line maintenance, heavy maintenance, engine shops, component shops and supply chain. “In addition, they would also benefit from digital enablers such as mobility applications, bots, HUBs, AI, dashboards and 3rd party integration offerings powered by Ramco,” the company said in a BSE filing. READ FILING HERE
Ramco ERP, meanwhile, signed an agreement with Agrifields DMCC, one of the largest companies in the trading of fertilizers and other agricultural inputs in the middle east, for implementing Ramco ERP Suite including modules for inventory, procurement, production, maintenance, along with real-time integration to plant operations via RTI (Real-Time Integrator) for its operations in Philippines.
Ramco HR & Global Payroll, too, signed two agreements, one each in Asia and America. The company’s business unit signed an agreement with a global multinational that has an existing Ramco Managed Payroll client across 12 countries, to extend the coverage to additional 5,000-plus employees in Japan. While another agreement with a multinational in the energy sector will consolidate its payroll operations across 20+ countries in Asia, the Middle East and South Africa on Ramco’s Next-generation Managed Payroll Services platform, the company said.
In the past six months, the stock has zoomed 405 per cent, as compared to a 37-per cent rise in the S&P BSE Sensex. At 01:36 pm, the stock was up 7 per cent at Rs 609, as against a 0.11 per cent gain in the benchmark index. A combined 775,000 equity shares changed hands on the counter on the NSE and BSE till the time of writing of this report.