Ramco Systems rose 5.35% to Rs 512 at 12:40 IST on BSE after the company announced that it has won an order from L-3 MAS for the Ramco Aviation Suite to support the Canadian CC-150 Polaris fleet.
The announcement was made during trading hours today, 6 September 2016.Meanwhile, the BSE Sensex was up 308.37 points, or 1.08%, to 28,840.48.
On BSE, so far 16,000 shares were traded in the counter, compared with average daily volume of 2,680 shares in the past one quarter. The stock hit a high of Rs 532.65 and a low of Rs 484 so far during the day. The stock hit a 52-week high of Rs 900 on 9 November 2015. The stock hit a 52-week low of Rs 482 on 2 September 2016. The stock had underperformed the market over the past 30 days till 2 September 2016, sliding 11.43% compared with 2.95% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 31.77% as against Sensex's 6.29% rise.
The small-cap aviation software provider has equity capital of Rs 30.08 crore. Face value per share is Rs 10.
Ramco Systems announced that L-3 MAS, Canada's leading aircraft support service provider, will implement Ramco Aviation Suite V5.7 to manage the maintenance, repair and overhaul (MRO) operations of the Royal Canadian Air Force fleet of CC-150 Polaris aircraft.
Ramco's scalable and mobile-enabled MRO software built for the aviation industry will replace the incumbent legacy maintenance system in use for the CC-150 Polaris fleet with a full suite of aviation software covering engineering & programs, materials management, maintenance, compliance & quality, flight operations, and MRO sales, coupled with offline maintenance. The suite is expected to streamline L-3 MAS' user processes and data infrastructure.
Ramco's flexible, modular, and scalable architecture provides the horizontal and vertical scalability that L-3 MAS was looking for, including the need for offline maintenance capability.
L-3 MAS, a division of L-3's Aerospace Systems business segment, is Canada's leading In-Service Support (ISS) integrator.
Ramco Systems' consolidated net profit dropped 91.35% to Rs 0.90 crore on 11.01% fall in net sales to Rs 109.66 crore in Q1 June 2016 over Q4 March 2016.
Ramco is an enterprise software player offering multi-tenanted cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.
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