R Systems International zooms over 80% in one month

The stock has zoomed nearly 85% from Rs 370 on January 24, as compared to 2% fall in S&P BSE Sensex.

R Systems International has soared 8% to Rs 683, also its record high on the BSE, extending its month long rally on the bourses.

The stock of mid-sized information technology firm has zoomed nearly 85% from Rs 370 on January 24, as compared to nearly 2% decline in benchmark S&P BSE Sensex.

The company has reported over seven-fold jump in consolidated net profit at Rs 21.77 crore for the quarter ended December 31, 2013, on back of strong operational performance. The company had profit of Rs 2.90 crore in the same quarter last year.

The company has joined the elite club of companies with revenue over $ 100 million. Over the year the company added over 15 marquee clients with profitability across all business verticals and geographies, R Systems International said in a statement.

At the end of December quarter, the promoters held a 50.86% stake in the company. The remaining 49.14% stakes are with the non-institutional investors of which 0.87% stake are with the bodies corporate.

Bhavook Tripathi, the single largest individual shareholder, held 36.55% stake in R Systems International, the shareholding pattern data shows.