Ramco Systems hits over 4-year high in a weak mkt; rallies 49% in one month

Shares of Ramco Systems hit an over four-year high of Rs 724, having surged 9 per cent on the BSE in the intra-day trade on Tuesday, in an otherwise subdued market. The stock of information technology (IT) consulting & software company was trading at its highest level since June 2016.

In the past 10 trading days, the stock has surged 35 per cent after the company announced that it has signed a multi-million-dollar agreement with a Global Fortune 500 major to unify and transform its Payroll for 18 countries in Asia Pacific region on Ramco’s Managed Payroll Services. With this win, the company has added three Fortune 500 brands as clients for Ramco Global Payroll, in Q3 2020, it said.