Shares of Ramco Systems Ltd. rose to the highest level since Jan. 2022 on Wednesday after the release of the 6.0 version of its aviation software.
"Along with the advanced capabilities, our specialised engine maintenance, repair, and operations solution is a key part of this release, addressing the critical challenges of engine maintenance," the company said. "By harnessing advanced technology and our domain expertise, Ramco Aviation Software 6.0 will enable aviation organisations to meet their growing customer demands and stay competitive," it added.
Ramco's aviation software has over 90 aviation organisations onboard and is the choice for top airlines, large heli-operators, leading defence organisations, and major urban air mobility companies around the world.
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The new version of the software comes with an engine MRO module, a maintenance control centre hub, an aviation material requirements planning module, a graphical quote comparison tool, and a purchase automation framework.
Shares of the company rose as much as 5.94% to Rs 455 apiece, the highest level since Jan. 14, 2022. It pared gains to trade 2.4% higher at Rs 440 apiece as of 10:57 a.m. This compares to a 0.1% advance in the NSE Nifty 50 index.
The stock has risen 51.3% on a year-to-date basis and 33.4% in the last 12 months. Total traded volume so far in the day stood at 5.2 times its 30-day average. The relative strength index was 63.63.
One analyst tracking the company has a 'buy' rating for the stock, according to Bloomberg data. The average 12-month consensus price target implies an upside of 2.2%.
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