Ramco Systems skyrockets 5%; signs agreement with Arla Foods for modernizing payroll operations

Ramco Systems signed an agreement with Arla Foods for modernizing and transforming its multi-country Payroll operations on Ramco’s Global Payroll platform.

Sep 18, 2020 09:09 IST India Infoline News Service

Ramco System
Chennai-based Ramco Systems on Friday froze at its upper circuit limit giving 5% return to investors. The performance was lifted after the company signed an agreement with Arla Foods for transforming its payroll operations.

At around 09.53 AM, Ramco Systems trade at the upper price band of Rs378.05 per piece surging by 5% on Sensex.

On Thursday, in its regulatory filing, Ramco Systems intimated about signing an agreement with Arla Foods, World's largest producer of organic dairy products and Global Top 10 Dairy Company for modernizing and transforming its multi-country Payroll operations on Ramco’s Global Payroll platform.

As per the agreement,  Arla Foods will be implementing Ramco Global Payroll & HR software to streamline multi-country Payroll and Time & Attendance operations across 5 Middle East countries on a single platform.

In the previous closing, Ramco Systems stock stood at Rs360.05 per piece.

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