Ramco Group Stock Gains 4% After Company Signs MoU With Safran: Know Details
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Ramco Systems shares gained 4.20 per cent after its MoU with Safran Helicopter Engines opened the door to seamless engine data integration with its aviation software platform.
✨ Key Takeaways
Ramco Systems Ltd shares gained over 4 per cent on Friday, September 4, after it announced a strategic collaboration with Safran Helicopter Engines to enable seamless integration of engine data with its aviation software platform.
The stock opened with a gap-up at Rs 598.40 against its previous close of Rs 586.55. Buying interest strengthened during the session, taking the stock to an Intraday high of Rs 615.85, representing a gain of nearly 5 per cent from the previous close.
The stock eventually closed at Rs 611.20, up 4.20 per cent.
Ramco Systems Signs MoU With Safran Helicopter Engines
The rally followed Ramco Systems Ltd's announcement on September 3 that it had signed a Memorandum of Understanding (MoU) with Safran Helicopter Engines, a leading manufacturer of rotorcraft turbine engines.
Under the agreement, the two companies will work towards enabling Safran's engine data to flow directly into the Maintenance Information System (MIS) within Ramco Aviation Software.
The integration is aimed at reducing manual data entry for helicopter operators and improving the accuracy and consistency of maintenance information.
Ramco Systems and Safran Helicopter Engines will work on enabling engine configuration details, usage metrics and maintenance events to be automatically ingested into Ramco Aviation Software.
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Safran to Award EngineLife Connect Label
As part of the collaboration, Safran Helicopter Engines will award Ramco Aviation Software the EngineLife® Connect label.
The label identifies connectivity solutions that are compatible with Safran's range of products and services.
The partnership will focus on developing a technical link that allows engine information, including configuration, operating hours and maintenance events, to be directly loaded into Ramco Aviation Software.
The companies will also define joint business processes to support reliable and continuous two-way data exchange between Safran and Ramco.
Focus on Digital Aviation Services
The collaboration is also expected to support the digital services offered by Safran to its customers by improving the flow of engine data.
Ramco Systems and Safran Helicopter Engines will jointly evaluate data exchange formats and establish operational processes to maintain compatibility between their systems.
For helicopter operators, the integration could help reduce manual processes and provide maintenance teams with more readily available and consistent engine information.
About Ramco Systems Ltd
Incorporated in 1997, Ramco Systems Ltd is part of the Ramco Group. It provides cloud and mobile-based enterprise software solutions. Its offerings cover ERP, global payroll, Logistics, aviation MRO, service resource planning and enterprise asset management. The company has a strong presence in the aviation sector and has also expanded into the US Defence market.
Disclaimer: The article is for informational purposes only and not investment advice.