Ramco Systems hits 52-week high after order win

Ramco Systems jumped 4.39% to Rs 394.65 after the company said it signed an agreement with CHI Aviation for delivering the full suite Ramco Aviation Software.

Ramco Systems in an exchange filing during market hours today said that the full suite Ramco Aviation Software comprises maintenance & engineering, supply chain, MRO sales, flight operations, manufacturing, and finance.

CHI Aviation is a leading U.S. headquartered helicopter services provider for heavy-lift helicopter services, specializing in support for the construction, HVAC, fire-suppression and defense industries. CHI Aviation also manufactures unmanned aerial vehicles (UAV) / drones for the U.S. Department of Defense.

Ramco Systems added that with this order win Ramco Aviation Suite now maintains the largest numbers of civilian version of CH-47s Helicopters.

Shares of Ramco Systems have risen 39% in seven consecutive sessions from its recent closing low of Rs 283.85 on 10 September 2020. The stock hit a 52-week high of Rs 396.65 in intraday trade today.

Ramco Systems is an enterprise software, offering cloud and mobile-based enterprise software in the area of HCM and Global Payroll, ERP and M&E MRO for Aviation.

The IT firm's consolidated net profit surged 380.7% to Rs 14.18 crore on a 4% increase in net sales to Rs 145.25 crore in Q1 June 2020 over Q1 June 2019.

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