Ramco Systems gains on strengthening foothold in Middle East region

11 May 2015

Ramco Systems is currently trading at Rs 617.00, up by 7.25 points or 1.19% from its previous closing of Rs 609.75 on the BSE.

The scrip opened at Rs. 610.00 and has touched a high and low of Rs. 625.25 and Rs. 597.00 respectively. So far 1038 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 747.00 on 19-Mar-2015 and a 52 week low of Rs. 156.25 on 16-May-2014.

Last one week high and low of the scrip stood at Rs. 658.00 and Rs. 580.00 respectively. The current market cap of the company is Rs. 1829.21 crore.

The promoters holding in the company stood at 69.18% while Institutions and Non-Institutions held 7.68% and 23.14% respectively.

Ramco Systems, a leading enterprise software provider on cloud, mobile and tablets, has strengthened its foothold in the Middle East region with the addition of 6 new customers in the last three months.  For FY14-15, the Middle East and Africa contributed 26% to the overall revenue.

Of the 6 customers, a leading bank in UAE tied up with its Ramco System for its banking regulatory offering, ADF Solution, while Bank Dhofar, one of the fastest growing banks in the Sultanate of Oman for managing HR needs of its 2500+ employees. JA resorts & Hotels, a diversified conglomerate and a leading hospitality chain based in Dubai along with a non-profit-organization providing healthcare in Saudi Arabia and a leading UAE based financial service provider Chose Company’s HCM for managing its 2500 employees.

Besides, Nathan & Nathan, a payroll service provider will leverage Ramco HR platform to offer payroll services to 40+ companies.  With the addition of Nathan & Nathan, the company has embarked into PaaS (Platform as a service) in MEA.

Ramco is part of $1 billion diversified conglomerate, the Ramco Group of companies. The company is a rapidly growing cloud enterprise software company focused on providing multi tananted enterprise software to corporates in the area of HCM and Payroll, ERP and M&E MRO for Aviation, with mobile first philosophy and in memory based planning and optimization edge.

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