Kellton Tech Solutions shares were down 4% on 23 October even after the firm won a digital engineering deal with a Middle East airline.

The Hyderabad-based technology firm said it will take charge of a centralised engineering function for the airline.

The announcement does not name the carrier or put a value on the deal. Airline websites and apps are often built by many different teams.

Kellton will bring that work under one roof, so every team follows the same steps for building and testing software, and the setup can grow with the airline’s needs.

The company also sees room to bring AI tools into that work. Karanjit Singh, its CEO for Asia Pacific, said airline platforms now sit at the heart of daily operations, so the engineering behind them has to keep pace.

The win builds on earlier aviation work, including digital platforms and AI-based operating tools for airlines and airport operators.

Kellton employs more than 2,000 people across North America, Europe, the Middle East and Asia. No revenue figure has been disclosed so far.

Recent weeks have been busy for the company. On 15 September, an auto finance firm picked Kellton to build a loan integration platform.

On 23 September, its board first backed a rights issue, which lets existing shareholders buy new shares.

On 17 October, the board met again on the terms and cleared raising up to Rs 160 crore.

At 12:24 pm, it’s trading at Rs 11.01 on the NSE, down Rs 0.29 from the previous close of Rs 11.30.

The stock has lost 19.77% over the past month and 49.80% over the past year. Its market value stands at Rs 586.67 crore.

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