Kelton Tech hits new 52-week high on winning multi-year project from LIC

18 Dec 2023 , 02:25 PM

Kellton Tech Solutions shares soared 16.16% to Rs 108.5 per share on the BSE in intraday session on Monday after the business received a ‘mega’ order from Life Insurance Corporation (LIC).

LIC chose Kellton to integrate and manage its HRMS portal, establishing a strong alliance between Kellton’s significant experience with large-scale projects and the revolutionary PeopleStrong HR-Tech platform. This comprehensive system promises to administer LIC’s huge employee and retiree base, according to Kellton Tech in an exchange filing earlier today.

Under the terms of the agreement, Kellton will revolutionize LIC’s HRMS landscape by using PeopleStrong’s cutting-edge capabilities. The engagement includes seamless data integration, a smooth transfer, and optimization related with older applications.

Over 150,000 LIC workers will benefit from the engagement, which will provide them with innovative HR solutions that will ensure increased efficiency and performance.

According to the statement, the relationship is at par with LIC’s goals and represents a significant step forward in influencing the future of HR transformation inside LIC and the larger Indian IT industry.

At around 2.23 PM, Kelton Tech was trading 9.74% higher at Rs 102.55, against the previous close of Rs 93.45 on NSE.

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