Ramco Systems’ shares surged by 18% to Rs 335 in morning trading on April 10, following the announcement of a multi-million-dollar deal with Korean Air, the largest airline in Korea. The agreement entails providing tech support for Korean Air’s new engine maintenance complex.
In a regulatory filing, Ramco Systems stated that the implementation of its aviation software will replace multiple legacy systems, streamlining operations across current engine shops and planned expansion sites.
This collaboration comes in the wake of Korean Air’s recent announcement regarding the construction of its engine Maintenance, Repair, and Overhaul (MRO) facility near Incheon International Airport. Ramco’s engine MRO solution is expected to support Korean Air’s current operations and future expansion plans, enhancing the airline’s aircraft engine maintenance capabilities and reinforcing its position in the market.
At 9:45 am, the stock was trading at Rs 329, marking a notable increase of 15.56 percent from the previous close on the National Stock Exchange (NSE).
Since the beginning of the year, the share has recorded a gain of 13 percent. Trading volumes surged, with 6 lakh shares exchanging hands, well above the one-month average of 64,000 shares.
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