Ramco Systems trades jubilantly on entering into strategic engagement with Korean Air
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Ramco Systems is currently trading at Rs.341.75, up by 56.95 points or 20.00% from its previous closing of Rs. 284.80 on the BSE.
The scrip opened at Rs. 307.25 and has touched a high and low of Rs. 333.95 and Rs. 306.00 respectively. So far 49676 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 356.65 on 06-Feb-2024 and a 52 week low of Rs. 209.10 on 17-May-2023.
Last one week high and low of the scrip stood at Rs. 341.75 and Rs. 283.00 respectively. The current market cap of the company is Rs. 1155.39 crore.
The promoters holding in the company stood at 51.95%, while Institutions and Non-Institutions held 16.02% and 32.03% respectively.
Ramco Systems has entered into strategic engagement with Korean Air, a flag carrier of South Korea and its largest airline, to implement its flagship aviation software, Ramco Aviation Suite at Korean Air’s Engine Maintenance Center. This association was officially announced at MRO Americas 2024, Chicago. This engagement comes close on the heels of the airline announcing the construction of its new engine MRO facility in Unbuk, near Incheon International Airport, claiming to be the largest engine maintenance plant in Asia, consolidating all engine MRO capabilities into a single cluster. The airline currently conducts MRO work on six engine models, and with this expansion, Korean Air is looking to add three more engine types to its aircraft family.
The implementation of Ramco’s Aviation Software will replace multiple legacy systems to streamline operations across current engine shops and planned expansion sites. With comprehensive MRO-specific functionalities, and integrated e-publications all on a unified platform, offered as an out of the box solution, Ramco Aviation will be the technological foundation for Korean Air. In addition, the airline’s engine maintenance center will also benefit from digital enablers such as Mobility via Anywhere Apps, HUBs, Dashboards and other integrations to the ecosystem offerings, powered by Ramco. Ramco’s robust Engine MRO solution will cater to the current and future expansion plans of the airline, thereby strengthening the airline’s aircraft engine maintenance capabilities and solidifying its presence in the MRO segment.
Ramco Systems is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&EMRO for Aviation.
