RS Software ends at 10% upper circuit after receiving financial assistance from US govt amid Covid resurge

On Sensex, RS Software closed at the upper circuit of Rs30.40 per piece up by 9.95%.

May 27, 2021 04:05 IST India Infoline News Service

RS Software on Thursday announced that its USA Branch received special assistance under the Paycheck Protection Program (PPP) of the United States Federal Government.

In its regulatory filing, RS Software said, "A business loan of $ 876,350 (equivalent to ~Rs. 648 Lacs) was received at a nominal interest rate of 1% during FY21, and now we have received the permission that waives off a significant amount of this loan. An amount of US$ 344560.54 (equivalent to ~Rs 255 Lacs) along with interest of US$ 3646.60 has been waived."

On Sensex, RS Software closed at the upper circuit of Rs30.40 per piece up by 9.95%. 

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