Ramco Systems jumps nearly 21% in two days

Ramco System extended its winning streak for the second day after extending partnership with HAECO.

Ramco System climbed 16.29% to Rs 171, extending Monday's 3.81% rise triggered by HAECO extending its partnership with the company.

Ramco System announced during trading hours on Monday that Hong Kong Aircraft Engineering Company (HAECO Group), a leading aviation maintenance, repair & overhaul (MRO) specialist, will continue to work with Ramco Systems to bring the global software specialist's advanced Aviation solutions to four more business units in Hong Kong, Xiamen and Jinjiang.

HAECO's partnership with Ramco began last year when HAECO ITM, a HAECO Group company which provides inventory technical management solutions, adopted Ramco's Aviation Suite. The proprietary platform is equipped with advanced supply chain planning and optimisation, covering customer contract management, supply chain management, inventory management, financial management, and component engineering including reliability management.

Following the successful collaboration, the group will now implement Ramco Aviation Suite,integrated with a new HRand Finance solution, atits Component, Repair and Overhaul (CRO) services facilities in Hong Kong and Xiamen; Landing Gear Services facility in Xiamen; and Composite Services facility in Jinjiang.

Following the announcement, the Ramco System stock surged 3.81% to close at Rs 147.05 on Monday. The stock has advanced nearly 21% in just two trading sessions.

The stock currently trades above its 100-day moving average (DMA) placed at 163.10 but below its 200 DMA placed at 193.82.

On consolidated basis, Ramco Systems' net profit surged 153.89% to Rs 7.49 crore on 6.88% rise in net sales to Rs 149.28 crore in Q2 September 2019 over Q1 June 2019.

Ramco Systems is engaged in computer programming, consultancy and related activities, and hosting and related activities. The company offers software solutions and services. Ramco Logistics Software caters to logistics-third party logistics (3PL), freight forwarders and network service providers

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