The company has signed a deal with South Korea’s biggest airline to deploy Ramco Aviation Suite at its Engine Maintenance Center.
Shares of Ramco Systems
Ramco Systems’ shares hit the 20% upper circuit at Rs 341.75 on BSE during Wednesday’s intra-day trading, following a multi-million dollar deal with Korean Air for its Ramco Aviation software. By 10:33 am, 2.33 million equity shares were traded, with pending buy orders for 0.36 million shares on both NSE and BSE. The stock reached a 52-week high of Rs 356.65 on February 6, 2024.
What did the Ramco system say?
Ramco Systems announced in an exchange filing a strategic partnership with Korean Air, South Korea’s flag carrier and largest airline, to deploy its flagship aviation software, Ramco Aviation Suite, at Korean Air’s Engine Maintenance Center.
Ramco’s Aviation Software
Replacing various legacy systems, Ramco’s Aviation Software will streamline operations across existing engine shops and future expansion sites. With extensive MRO-specific features and integrated e-publications, all provided as a ready-made solution on a unified platform, Ramco Aviation will serve as Korean Air’s technological cornerstone, the company stated.
Furthermore, the airline’s engine maintenance center will gain from digital enhancements like Mobility via Anywhere Apps, HUBs, Dashboards, and other ecosystem integrations, all powered by Ramco.
Ramco Systems, during the announcement of December quarter (Q3FY24) results on February 7, revealed securing strategic partnerships with notable service firms, Deloitte Touche Tohmatsu India LLP and BDO India. These partnerships will integrate Ramco’s advanced payroll platform with the extensive consulting capabilities and services provided by these partners, setting a standard for global payroll excellence.
Ramco’s Expectations
With the company’s turnaround strategy progressing, Ramco anticipates enhanced growth and improved outcomes in upcoming quarters. “This shift underscores Ramco’s dedication to excellence and strategic alliances, positioning us to exceed expectations and attain a prominent industry standing,” stated the management.
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