Ramco Systems up on new order

Ramco Systems opened today with a loss of 3.3% at Rs.160.25 and then went on to hit an intraday high at Rs.179.45, surging up over 8%.

The stock price surged after news came in of a new order win.

Today mid-morning, the company announced that it has secured a multi-million-dollar Global Payroll and Workforce Management (WFM) deal from a leading Australian University.

With this win, Ramco will be expanding its foothold in the Higher Education vertical which is witnessing good demand for HR & Payroll transformation.

Ramco will be partnering with a leading global consulting firm to implement its multi-country Payroll solution while will also offer Workforce Management solution in partnership with an Australian headquartered cloud based WFM provider, thereby providing an integrated Payroll and Workforce Management solution. Request you to kindly take this on record under SEBI (LODR).

Though the company has said, “multi-million dollar” order, it has nowhere specified the exact amount.