Ramco Systems shares jump another 13.5% to hit 2-year high, up 44% in April so far – what's behind the rally?
Ramco Systems, a global aviation software specialist, jumped another 13.5% in today's trading session, reaching ₹386.90 apiece to hit a 2-year high. This strong rally has pushed the stock to gain 44% in April so far.
On April 10, the company announced a strategic collaboration with Korean Air, South Korea's flag carrier and largest airline. The partnership entails the implementation of Ramco Aviation Suite, the company's flagship aviation software, at Korean Air’s Engine Maintenance Center.
Also Read: Zomato shares extend gains to a record high; JM Financial raises target price This engagement follows closely after Korean Air revealed plans for constructing its new engine MRO facility in Unbuk, near Incheon International Airport. The facility claimed to be the largest engine maintenance plant in Asia, consolidates all engine MRO capabilities into a single cluster.
With over 90 aviation organisations onboard, Ramco has emerged as the preferred solution provider for leading airlines, third-party MROs, major Heli-operators, prominent defense organisations, and key urban air mobility companies worldwide. The company highlighted that the deployment of Ramco’s Aviation Software will replace multiple legacy systems, streamlining operations across current engine shops and planned expansion sites.
Also Read: Multibagger Stock: Macrotech Developers yielded 160% return in a year, gained over 400% in 3 years Offering comprehensive MRO-specific functionalities and integrated e-publications, all on a unified platform, Ramco Aviation is poised to serve as the technological backbone for Korean Air, it added. Further, the company said that the airline’s engine maintenance center will leverage digital enablers such as mobility via
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