This Vijay Kedia stock rises 7% on order win from General Atomics

Vijay Kedia-owned Ramco Systems rallied as much as 7 per cent during early trade on Friday after the US arm of the aviation software firm bagged an order from General Atomics Aeronautical Systems.

Ramco Systems Corporation's US-based wholly-owned subsidiary Ramco Systems Defense and Security Incorporated (RSDSI) has been selected by General Atomics Aeronautical Systems, (GA-ASI) to implement Ramco’s Aviation M&E MRO Suite V5.9 for GA-ASI’s SkyGuardian Global Support Solutions (SGSS) program, the company said in an exchange filing.

General Atomics Aeronautical Systems, Inc. (GA-ASI) is among the world leaders in unmanned aerial systems.

Following the announcement, shares of Ramco Systems zoomed close to 7 per cent to Rs 310.90 on Friday, before trading at 306.7 at 10 am. The scrip had settled at Rs 292 on Thursday.

Ramco’s aviation software will offer GA-ASI modules covering maintenance planning and execution; engineering and fleet airworthiness management; supply chain management; technical publication and digital task cards, safety,
Quality & Compliance, and Employee Certifications & Qualification, the filing added.

With deep functional and technical capabilities, the solution will integrate GA-ASI’s operations globally, and enable the SGSS program to support its customers for parts management, aircraft fleet management, and supply chain, in support of their MQ-9B SkyGuardian remotely piloted aircraft (RPA) operations, the company said.

The company had reported a widening of the net loss to Rs 50.69 crore for the quarter ended June 2022 as against a net loss of Rs 8.93 crore during the previous quarter ended June 2021.

Its sales declined about 15 per cent to Rs 119.92 crore in the quarter ended June 2022 as against Rs 140.45 crore during the same period a year ago.

Dalal Street veteran Vijay Kedia owned 6,01,436 equity shares or a 1.95 per cent stake in the company as of June 30, 2022, shareholding data suggested.