R Systems rallies 15% as board to consider share buyback

New Delhi: Shares of R Systems International advanced 15 per cent on Friday, scaling a new 52-week high as the company announced that its board may consider a buyback proposal.

The company board is set to meet on Friday, August 6, to consider the proposal for buyback of equity shares of the company, quantum and mode of buyback, it said in a regulatory filing.

The board will also consider and approve the audited standalone financial results and the unaudited consolidated financial results of the company for the quarter and half year ended June 30, 2021. It follows the January to December calendar.

Shares of R Systems International gained 15 per cent to Rs 211.45 on Friday, before trading at Rs 207.5 at 10.15 am. BSE Sensex was trading 115.5 points, or 0.22 per cent, higher at 52,780.05 at the same time. The scrip settled at Rs 183.80 on Thursday.

As of June 30, 2021, the promoters held a 51.58 per cent stake in R Systems International, 48.42 per cent was in public shareholding and 36.85 per cent stake was held by a single investor Bhavook Tripathi, the shareholding pattern data shows.