R Systems Intl hits 20 percent upper circuit

Good Q1 results, special dividend and European business acquisition triggers heavy buying at the counter.

Aug 05, 2015 03:08 IST India Infoline News Service

R Systems International
R Systems International has hit the 20 percent upper limit at Rs. 82.65 on the back of strong Q1 results and announcement of a special dividend.

According to a release issued by the company to the BSE, R Systems' Q1FY16 net profit jumped by 35.9 percent to Rs. 11.63 crore when compared with Rs. 8.56 crore in the corresponding quarter a year ago. Total income has increased by 22.1 percent to Rs. 87.71 crore from Rs. 71.83 crore.

Further, the company's board today declared a special dividend of Rs. 3.30 per equity share.

The company also announced business acquisition through its European subsidiary for a maximum consideration of 0.7 million euros.

The stock remains locked at the 20 percent upper limit and around 140,000 shares have changed hands so far on the BSE. There are pending buy orders for over 34,000 shares.

Meanwhile, the Sensex has gained 152 points at 28,224.

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