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R Systems Shares Jump 15% as IT Rally Sparks Buying

R Systems Shares Jump 15% as IT Rally Sparks Buying
R Systems International skyrockets 15% today after it was down 34% in a year — Book profit or buy more? Experts' view · livemint.com

R Systems International’s share price rose sharply on Friday.

It climbed more than 15% during the day, even though it had lost value over the previous year.

The article says many IT stocks were rising after encouraging results from TCS.

Investors also showed interest in companies that provide IT-related services.

An expert pointed to R Systems’ recent AA− (Stable) credit rating as another positive sign.

Another expert said the stock would need to close above ₹298 to signal a possible move toward ₹358.

He suggested that current shareholders use stop-loss levels to limit potential losses.

For people who do not own the stock yet, he suggested waiting for a price drop before buying.

These are analysts’ views, not guaranteed outcomes.

Key facts

Intraday opening price
₹245.80 per share
Intraday high
₹284.60 per share
Previous close
₹242.85 per share
Year-to-date change
Down about 30%, according to the article
Past-year change
Down about 34%, according to the article
Technical breakout level cited
₹298 on a closing basis
Potential near-term target cited
₹358
Credit rating cited
AA− (Stable) from ICRA, received Thursday

Quotes

Mahesh M Ojha

Vice President of Research and Business Development at KC Securities

“R Systems International share price is on the cusp of giving a technical breakout at ₹298. On breaking above this level on a closing basis, we can expect R Systems International share price to touch ₹358 in the near term. So, R Systems International shareholders are advised to hold the scrip, maintaining a strict stop-loss at ₹248. Long-term investors may also hold the scrip, maintaining the stop-loss at ₹234.”
livemint.com
“Fresh investors can wait for some correction and buy around ₹260 per share levels, maintaining a stop-loss at ₹248 for the immediate target of ₹300. On breaking above this target, one can hold the scrip maintaining a stop-loss of ₹288 for the next target of ₹358.”
livemint.com

Sources

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