Ramco Systems Share Price Jumps 6% After THIS Business Update; Should You Buy?
Introduction
Ramco Systems, a global aviation software provider, recently announced the successful implementation of its aviation software at Philippine Airlines for the domestic PAL Express fleet operations. As a result, the company’s share price jumped 6% in morning trade, leaving investors wondering if this is a buying opportunity.
Ramco Systems Business Update
The company’s on-cloud, next-gen platform has optimized and digitized the operations of the PALEx fleet of A321, A320, and Q400. This achievement is a significant step forward in Ramco Systems’ foray into the aviation software market.
Philippine Airlines (PAL) – A Brief Overview
PAL is the Philippines’ flag carrier, the only full-service network airline, and the first commercial airline in Asia. With its rich history and commitment to excellence, PAL is a gold standard for airlines globally.
Ramco Systems’ Key Quote
"It has been an honour to partner with PAL in their digital transformation journey. We are proud to provide PAL with a cutting-edge solution that aligns with their growth objectives and delivers enhanced performance across their operations," said Sam Jacob, Senior Vice President and SBU Head – Aviation, Aerospace and Defense, Ramco Systems.
Ramco Systems Share Price Trend
The small-cap stock has given a negative return over the last year, declining nearly 2% in the last one year. On a monthly scale, Ramco Systems share price is down 16% this month after a 14% fall in January. Despite this, the stock hit a 52-week high of ₹522.40 on December 4 after hitting a 52-week low of ₹262.05 on March 28.
Should You Buy Ramco Systems Stock?
The stock is looking weak on charts, and experts believe a breakout above ₹320 may signal bullish momentum in the stock. According to Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, Ramco Systems appears weak, as it has breached the monthly pivot support (S1) and is trading near ₹305.
Key Technical Levels
The immediate support is at ₹300, while resistance stands at ₹320. A strong breakout above ₹320 could push the stock toward ₹350. However, if it fails to hold ₹300, further downside toward ₹290 is possible.
Conclusion
In conclusion, while the short-term trend is challenging, the long-term potential of Ramco Systems remains intriguing. We advise investors to closely monitor the stock’s performance and consider a buying opportunity if the stock breaks above ₹320. However, it is essential to consult with certified experts before making any investment decisions.
Disclaimer
This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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