Ramco Systems gained 5.47% to Rs 554.45 at 11:45 IST on BSE after the company announced that it has secured an order from the world's largest and longest running aerial tour company, Papillon Grand Canyon Helicopters.
The announcement was made during market hours today, 2 January 2018.Meanwhile, the S&P BSE Sensex was down 2.76 points or 0.01% at 33,809.99. The S&P BSE Small-Cap index was down 102.65 points or 0.53% at 19,177.31, underperforming the Sensex.
Higher than usual volumes were witnessed on the counter. On the BSE, 29,047 shares were traded on the counter so far as against the average daily volumes of 14,722 shares in the past one quarter. The stock had hit a high of Rs 570.95 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 514.85 so far during the day. The stock had hit a 52-week low of Rs 313.15 on 15 June 2017.
The stock had outperformed the market over the past one month till 1 January 2018, gaining 16.95% compared with 2.98% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 37.51% as against Sensex's 8.08% rise. The scrip had also outperformed the market in past one year, rising 57.7% as against Sensex's 26.99% rise.
The small-cap company has equity capital of Rs 30.53 crore. Face value per share is Rs 10.
Ramco Systems announced that it has secured an order from the world's largest and longest running aerial tour company, Papillon Grand Canyon Helicopters, to install Ramco Aviation Suite V5.8, for maintenance and engineering operations of its fleet.
Papillon Group's fleet of 80 rotor and fixed-wing aircraft fly an estimated 600,000 passengers each year along daily sightseeing tours of the Grand Canyon and other US landmarks. Founded in 1965, it has since become the largest aerial tour operator in the world.
Ramco will service two Papillon entities - Papillon Grand Canyon Helicopters and Grand Canyon Scenic Airlines - with its state-of-the-art Aviation Suite 5.8, integrating both facilities' disparate manual systems on a single digital platform to improve company-wide productivity and process efficiency.
Both entities of Papillon Group will migrate from multiple disparate systems to unify its engineering & programs, maintenance, compliance & quality, flight operations, and crew scheduling on a single platform from Ramco. In addition, Papillon will benefit from electronic flight bag, mobility, role-based HUBs and advanced visualization dashboard for real-time analysis.
On consolidated basis, Ramco Systems reported net profit of Rs 6.50 crore in Q2 September 2017 compared to net loss of Rs 3 crore in Q1 June 2017. Net sales rose 4.35% to Rs 115.15 crore in Q2 September 2017 over Q1 June 2017.
Ramco Systems is a fast-growing enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in the area of human capital management (HCM) and global payroll, enterprise resource planning (ERP) and M&E MRO for aviation.
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