Ramco Systems gains on securing long term order in Dubai

The stock of Chennai headquartered software player, Ramco System, surged as much as 4 per cent on BSE after the company reported that its subsidiary bagged a five-year order, on Wednesday.

The Dubai based subsidiary of Ramco Systems, Ramco Systems FZ-LLC, secured a five-year order from one of the largest independent family-owned multinational in the Middle East for implementation of Ramco Logistic ERP. With a 4000 plus workforce and ability to cater a range of sectors, such as shipping, logistics, travel and leisure, and energy and machinery, the group is one of the key players in this sector in the Middle East.

Under the stated order, the group will implement Ramco Warehouse Management System, which is a part of Ramco Logistics Software, for its logistics division, offering a global freight forwarding, along with end to end multimodal supply chain solutions, aiming at effectively manage a capacity exceeding 40,000 m2 of storage space, with an open yard storage facility, providing storage for petrochemical and having a specialised hazardous chemicals facility in the kingdom of Saudi Arabia.

The Ramco Systems is a Chennai-based software firm, which is engaged in ERP, HCM, and MRO product solutions.

At 1.00 pm, the stock traded with gains of 3.75 per cent at Rs. 146.55 on BSE.