Ramco Systems was up by 12% in afternoon trade after the company announced that it had won a Multi-million dollar Payroll Transformation order from one of the FTSE 100 constituent and British Multinational Banking & Financial Services company.
According to an official release, with Ramco’s Global Payroll platform, the BFSI major will derive benefits of a unified payroll processing system which will effectively and efficiently handle operations of 8500+ employees across Asia covering Vietnam, Brunei, Bangladesh, Sri Lanka & Nepal; and the Middle East covering Iraq, Bahrain, Oman, Qatar, Saudi Arabia, Egypt, Lebanon, Jordan and UAE in Phase 1.
Ramco Systems, a leading enterprise software company focusing on enterprise cloud platform, products and services, stated that it will enable the BFSI major in consolidating its multi-country Payroll on a unified platform.
Ramco Systems Ltd is currently trading at Rs 417, up by Rs 44.5 or 12% from its previous closing of Rs 372.5 on the BSE. The stock is currently trading above its 50 DMA.