Shares of Ramco Systems surged over 12.5 per cent on Tuesday after the IT company announced the signing of a multi-million dollar deal with Australia-based Cobham Aviation Services.
Aviation company Cobham will implement the Ramco's aviation suite to optimise operations of its over 140 fleet around the world.
Virender Aggarwal, CEO of Ramco Systems, termed the Cobham deal as a "strategic breakthrough" for its aviation business.
With the addition of Cobham, the total number of aircraft served by Ramco will be over 3,000 worldwide, the Indian company said. Ramco's aviation IT solutions are used by over 70 customers across the world.
Ramco Systems is a part of the $1 billion Ramco Group.
At 10:38 a.m., Ramco Systems shares were up 9 per cent at Rs 949 as compared to a flat Nifty.
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