Ramco Systems extends gain after IT solutions deal with Malaysia Airlines

Don't want to miss the best from Business Standard?

Ramco Systems is locked in upper circuit for third straight day, up 5% at Rs 243, also its 52-week high on the BSE, after the IT solutions provider signed a pact with Malaysia Airlines for providing a suite of enterprise-wide engineering solutions.

 
"This advanced solution, which integrates business processes and people, will serve the entire engineering functions for Malaysia Airlines group including Firefly, MASwings and MASkargo and also support its maintenance, repair and overhaul services," Ramco Systems said in a statement.

"The Malaysia Airlines deal represents the largest win secured by Ramco and will bring the total number of aircraft served by Ramco to over 2,250 worldwide", the company further added.

Though the size of the deal was not disclosed, the tenure is for five years that includes managing service components, it said.
 

At 1230 hours, a combined 26,562 shares have changed hands on the counter and there are pending buy orders for 34,245 shares on the BSE and NSE.