 "R Systems International hits 52-week high on share buyback plan")
R Systems International has surged 15% to Rs 79.35 on the National Stock Exchange (NSE) in otherwise weak market after the company announced share buyback plan.
“The board of directors of the company will meet on December 20, 2014, to consider and approve the proposal for Buy-back of equity shares of the company,” R System International said in a statement.
As of September 30, 2014, the promoters held 50.59% stake in IT consulting and software firm. Individual shareholders held 47.51% stake, while the remaining 1.9% stake are with the bodies corporate and others.
Bhavook Tripathi an individual shareholders held 36.27% stake in R System International, the shareholding pattern data shows.
The stock opened at Rs 68.80 and hits a 52-week high of Rs 80 on NSE. The trading volumes on the counter jumped multiple fold with a combined 563,320 shares changed hands till 1218 hours as against an average sub 50,000 shares that were traded daily in past two weeks on NSE and BSE.
“The board of directors of the company will meet on December 20, 2014, to consider and approve the proposal for Buy-back of equity shares of the company,” R System International said in a statement.
As of September 30, 2014, the promoters held 50.59% stake in IT consulting and software firm. Individual shareholders held 47.51% stake, while the remaining 1.9% stake are with the bodies corporate and others.
Bhavook Tripathi an individual shareholders held 36.27% stake in R System International, the shareholding pattern data shows.
The stock opened at Rs 68.80 and hits a 52-week high of Rs 80 on NSE. The trading volumes on the counter jumped multiple fold with a combined 563,320 shares changed hands till 1218 hours as against an average sub 50,000 shares that were traded daily in past two weeks on NSE and BSE.
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