RAMCO SYSTEMS: Ramco Systems surges 18% with Korean Air deal.
The Ramco Systems gets the deal with Korean Air as multimillion Software project in Engine maintenance area. It is the largest maintenance in Asia and it is grouped with all engine maintenance hub and software gives replacement of all multi legacy systems in the Engine Shop.
RAMCO SYSTEMS Market Price is moving in Ascending channel and market has rebounded from the higher low area of the channel
This significant increase followed the announcement of a multi-million-dollar deal between the aviation software specialist and Korean Air, the largest airline in Korea. The deal involves providing technical support for Korean Air’s new engine maintenance complex.
Ramco Systems revealed in a regulatory filing that its aviation software implementation would replace multiple legacy systems, thereby enhancing operational efficiency across existing engine shops and planned expansion sites.
This deal coincides with Korean Air’s recent announcement about the establishment of its engine Maintenance, Repair, and Overhaul (MRO) facility in Unbuk, near Incheon International Airport. This facility is anticipated to be the largest engine maintenance plant in Asia, consolidating all engine MRO capabilities into one cluster.
Ramco Systems emphasized that its engine MRO solution would align with Korean Air’s current and future expansion strategies, bolstering the airline’s aircraft engine maintenance capabilities and reinforcing its position in the segment.
Notably, trading volumes were high, with 6 lakh shares changing hands, significantly surpassing the one-month average of 64,000 shares.
Lupin: Lupin rises with US launch of generic doxycycline capsules.
The Lupin company launched its first generic version of Oracea( doxycycline capsules) in the US for the treatement of Inflammatory lesion problems in Adult patients. Already Lupin recalled 2626,352 bottles of Rifampin capsules from US for drug unhealthy for Patients as per US FDA Observations.
LUPIN Market Price has broken uptrend line in downside
During early trading hours, Lupin’s shares appreciated by 1 percent following the company’s launch of its inaugural generic version of Oracea (doxycycline capsules) in the United States.
Lupin issued a press release stating that it had introduced the first generic iteration of Oracea (doxycycline capsules, 40 mg) in the US market, subsequent to obtaining approval from the United States Food and Drug Administration (US FDA). This particular doxycycline capsule is intended for the treatment of inflammatory lesions (papules and pustules) of rosacea in adult patients.
In another development, the company initiated the recall of 26,352 bottles of Rifampin capsules, utilized in the treatment of various forms of tuberculosis, from the US market. This recall was prompted due to the identification of the drug as sub-potent. Manufactured at Lupin’s Aurangabad plant and distributed by its US arm, the recall commenced on March 21 and was categorized as a Class II recall according to the US FDA.
Furthermore, in March, Lupin received a Form 483 from the US FDA with one observation concerning its Aurangabad facility, subsequent to the regulator’s inspection of the manufacturing plant from March 6 to 15.
The Exide Industries acquired 26% stake in Clean max company for consuming 14.85MW Solar power project for its plant in the Haryana. The Exide Industries tie up with Kia- Hyundai motors for electrical battery supplying for its EV Vehicles. This collaboration makes more bright orders for Exide industries company.
EXIDE INDUSTRIES Market Price is moving in uptrend line and market has rebounded from the higher low area of the pattern
This downward movement came as investors opted to capitalize on recent gains, with the stock having surged by an impressive 22 percent over the course of three consecutive trading sessions.
In a significant development, Exide Industries disclosed its acquisition of a 26 percent equity stake in Clean Max Arcadia Private Ltd for a sum of Rs 5.34 crore. The company clarified in a regulatory filing that the primary aim of this investment in the special purpose vehicle (SPV) is to foster renewable energy initiatives over the long term. Specifically, Exide intends to qualify as a captive consumer for solar capacity amounting to 14.85 MWp, catering to its factory located in Bawal, Haryana.
Clean Max Arcadia, established and promoted by Clean Max Enviro Energy Solutions, is exclusively focused on the generation and distribution of solar power.
Meanwhile, Exide shares have been on an upward trajectory, experiencing a substantial 22 percent surge over the past three days. This positive momentum can be attributed to the announcement of a partnership between South Korean auto giants Hyundai Motor Company (HMC) and Kia Corporation with the indigenous battery manufacturer for the localization of electric vehicle batteries within the country.
In response to these developments, JPMorgan issued an ‘overweight’ rating on Exide’s stock. They expressed confidence in the company’s ability to secure partnerships with global Original Equipment Manufacturers (OEMs), which in turn alleviates investor concerns. Furthermore, they anticipate Exide to potentially secure additional orders as discussions with various OEMs continue.
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