Ramco System up 4% on partnership agreement with Eurocopter

Software firm Ramco Systems bounced back from its 52-week low in morning trade Thursday. Shares gained more than 4 percent to Rs 83, after the global aviation software provider signed global partnership agreement with Eurocopter to offer cloud-based services.

"Both companies will join forces to offer state-of-the-art helicopter maintenance software, which will ease the life of operaters and maintenance centres," the company said in its filing with the BSE.

The Franco-German-Spanish Eurocopter group is a division of EADS, a world leader in aerospace and defense-related services.

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At 11:22 hours IST, the stock was quoting at Rs 80, up 0.44 percent amid large volumes.

At the end of previous month, Ramco Systems approved the raising of further equity capital by issue of equity shares on a rights basis for an amount not exceeding Rs 125 crore.