2 hrs ago
R Systems Shares Jump 15% as IT Rally Sparks Buying
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.
R Systems International shares rose more than 15% intraday Friday, reaching ₹284.60 after opening at ₹245.80.
The stock had fallen about 30% year to date and 34% over the past year, according to the article.
Experts attributed the rally to wider buying in IT and IT-enabled stocks after the Nifty IT index surged up to 4%.
Anuj Gupta also cited the company’s ICRA AA− (Stable) rating, awarded Thursday, as a positive factor.
Mahesh M. Ojha said a close above ₹298 could open a path to ₹358; he advised existing holders to use stop-losses and new investors to wait for a correction.
- Who
- R Systems International and market experts Anuj Gupta and Mahesh M. Ojha.
- What
- R Systems International shares rose more than 15% intraday, amid a broad rally in IT-related stocks.
- Where
- Trading on the National Stock Exchange of India (NSE).
- When
- Friday; the article does not specify the date.
- Why
- Experts linked the rise to a rally in IT stocks following TCS Q2 results, interest in IT-enabled companies, and R Systems’ ICRA rating.
Wait for a pullback
Hold for a possible breakout
Approach for new investors
Wait for a pullback
Mahesh M. Ojha advised fresh investors to wait for a correction and consider buying around ₹260, with a ₹248 stop-loss and an immediate ₹300 target.
Hold for a possible breakout
The article does not report a conflicting recommendation from another expert for new investors.
Approach for existing shareholders
Wait for a pullback
Ojha recommended a strict stop-loss at ₹248 for shareholders, or ₹234 for long-term investors.
Hold for a possible breakout
Ojha advised shareholders to hold, saying a closing break above ₹298 could lead to a near-term target of ₹358.
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.”
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