Ramco Systems share price jumps 6% after THIS business update; should you buy?

Ramco Systems share price jumped over 6 per cent in morning trade on the BSE on Thursday, February 27, after the company announced the successful implementation of its aviation software at Philippine Airlines. The small-cap stock opened at ₹296.05 against its previous close of ₹303.20 and jumped 6.43 per cent to the level of ₹322.70. The stock, however, pared gains and traded just 0.92 per cent up at ₹306 around 12:45 PM.

Ramco Systems business update

During market hours on February 27, the global aviation software provider company announced the successful implementation of its aviation software at Philippine Airlines for the domestic PAL Express fleet operations.

According to the company, Ramco’s on-cloud, next-gen platform has optimised and digitised the operations of the PALEx fleet of A321, A320, and Q400.

Philippine Airlines (PAL) is the Philippines’ flag carrier, the only full-service network airline, and the first commercial airline in Asia.

“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.

“Our focus on innovation has helped us build a solution that addresses the challenges faced by aviation organisations like PAL and anticipates their future needs. Ramco Aviation Software will continue to support PAL’s success by streamlining their business processes and optimising resource utilisation,” said Jacob.

Ramco Systems share price trend

The small-cap stock has given a negative return over the last year, declining nearly 2 per cent in the last one year.

On a monthly scale, Ramco Systems share price is down 16 per cent this month after a 14 per cent fall in January.

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 last year.

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.

“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,” said Patel.

“The stock is expected to trade within a short-term range of ₹290 to ₹350. Traders should watch for a decisive move beyond these levels for potential trend confirmation. A breakout above ₹320 may signal bullish momentum, whereas a drop below ₹300 could indicate further weakness,” said Patel.

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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.