Ramco Systems shares climb over 17% in early trade, here’s why

Shares of Ramco Systems Ltd rose over 17% today after the global aviation software specialist announced its strategic engagement with Korean Air, largest airline of South Korea, to implement its flagship aviation software, Ramco Aviation Suite at Korean Air’s Engine Maintenance Center.

The stock of global enterprise aviation software provider zoomed 17.25% to Rs 333.95 against the previous close of Rs 284.80 on BSE. Market cap of the firm rose to Rs 1171.33 crore on BSE. Ramco Systems stock also touched an intraday low of Rs 306 on BSE.

The stock of Ramco Systems has gained 47.09% in a year and risen 12% in 2024. Total 0.34 lakh shares of the firm changed hands amounting to a turnover of Rs 1.10 crore on BSE.

Ramco Systems has a one-year beta of 0.5, indicating low volatility during the period.

In terms of technicals, the relative strength index (RSI) of the stock stands at 46.3, signaling the stock is neither oversold nor overbought. Ramco Systems shares are trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

Ramco Systems stock rose to a 52-week high of Rs 356.65 on February 6, 2024 and fell to a 52 week low of Rs 209.10 on May 17, 2023.

The airline currently conducts MRO work on six engine models, and with this expansion, Korean Air is looking to add three more engine types to its aircraft family. The implementation of Ramco's Aviation Software will replace multiple legacy systems to streamline operations across current engine shops and planned expansion sites.

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.