R Systems shares rise 8% in trade; here's what's driving the stock

R Systems International shares 7.6 per cent in Thursday's trade on BSE, logging an intraday high at Rs 374.6 per share. The northward movement in the stock came after the launched IoT Smart C2C connector build on Amazon Web Services.

 

Around 11:55 AM, R Systems share price was up 3.19 per cent at Rs 359.2 per share on BSE. In comparison, the BSE Sensex was up 0.24 per cent at 73,907.88. The market capitalisation of the company stood at Rs 4,251.92 crore. The 52-week high of the stock was at Rs 557.8 per share and the 52-week low was at Rs 304.95 per share. 

 

 

"R Systems International Limited (a Blackstone portfolio Company), a global leader in digital product engineering announces the launch of its IoT Smart C2C Connector," the filing read. 

 

The system solves challenges faced by service providers in managing and integrating a diverse range of smart home devices.

 

The R Systems IoT Smart C2C Connector, using AWS IoT Device Management, allows secure two-way communication between smart home devices and manufacturer clouds. It provides an easy, safe, and scalable way to manage smart devices.  READ: Castrol India hits 5-month high on heavy volumes; up 50% from January low

 

It offers a single, consistent user experience which helps in managing multiple platforms and interfaces often leads to inefficiencies, security risks, and operational bottlenecks.

 

“Smart home ecosystems are evolving rapidly, and seamless connectivity is key to driving exceptional user experiences. With the launch of our IoT Smart C2C Connector, we are enabling solution providers to integrate and manage smart home devices effortlessly, leveraging secure cloud-based communication and unified API controls,” said Srikara Rao, chief technology officer - Cloud, Cyber Security Services, R Systems.  READ: Bharat Forge arm inks pack with Compal Electronics; shares gain 2%

 

R Systems is a leading digital product engineering company that designs and develops chip-to-cloud software products, platforms, and digital experiences that empower its clients to achieve higher revenues and operational efficiency. The company's product mindset and engineering capabilities in Cloud, Data, AI, and CX enable us to serve key players in the high-tech industry, including ISVs, SaaS, and Internet companies, as well as product companies in telecom, media, finance, manufacturing, health and public services verticals.

 

In the past one year, R Systems shares have lost 24 per cent against Sensex's decline of 0.48 per cent.