Ramco Systems hits upper circuit

Since the past week, there has been a bevy of activity in Ramco Systems. Yesterday it had breached the upper circuit at Rs.210 and today too, it has risen 5% to hit the upper circuit at Rs.220.25. This is also a new 52-week high.

The stock has hit a high after the company stated that Malaysia Airlines has announced a 5-year strategic partnership with the company for a suite of critical enterprise-wide engineering solutions that includes aircraft maintenance, maintenance service sales, operational, human resources and financial functions. Though no financial details are given, the company has stated that this deal represents the largest win secured by Ramco.