Ramco Systems shares rise 6% after firm wins aviation deal

Shares of Ramco Systems Ltd rose 6% today after the firm said it would implement its next-gen Aviation Suite V5.9 at AI Engineering Services Limited (AIESL). AIESL is the biggest DGCA-approved MRO in India that can serve as a one-stop-shop for all engineering requirements at major Airports with pan India footprint i.e. Delhi, Mumbai, Hyderabad, Thiruvananthapuram, Kolkata ,Nagpur etc.

Subsequently, the stock of global enterprise aviation software provider zoomed 6% to Rs 295.75 against the previous close of Rs 279 on BSE. Market cap of the firm rose to Rs 1033.61 crore on BSE. Ramco Systems stock also touched an intraday low of Rs 275, its opening level on BSE.

The stock of Ramco Systems has gained 6.62% in a year and risen 15.67% in 2023. Total 0.33 lakh shares of the firm changed hands amounting to a turnover of Rs 93.74 lakh on BSE.

In terms of technicals, the relative strength index (RSI) of the stock stands at 56.6, signaling the stock is neither oversold nor overbought. Ramco Systems has a one-year beta of 0.9, indicating high volatility during the period. Ramco Systems shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

Ramco’s digital platform will further enrich the 20-year old association with AIESL, thereby offering them operational efficiency, simplified processes and enhanced customer experience.

Ramco Systems stock rose to a 52-week high of Rs 310.90 on September 2, 2022 and fell to a 52 week low of Rs 188.50 on March 31, 2023.

Ramco Aviation Suite will provide AIESL with modules covering 3rd Party MRO services including line, hangar, engine and component maintenance, engineering & CAMO services, supply chain management, and digital task cards. The solution will also enable AIESL to connect with suppliers, thereby aiding seamless flow of information. Through an accelerated data migration and execution plan, the implementation of Ramco Aviation Suite will be streamlined for rapid integration and quicker deployment.

Q1 earnings

Q1 consolidated net loss of Ramco Systems stood at Rs 31.2 crore against a loss of Rs 25.7 crore in the corresponding quarter last year. Consolidated revenue from operations rose marginally to to Rs 65.6 crore in Q1 against Rs 64.1 crore in the corresponding period of the preceding fiscal.

Ramco Systems is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the $1 billion Ramco Group, Ramco Systems focuses on innovation and culture to differentiate itself in the marketplace.

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