The Exchange has sought clarification from R Systems International Limited with respect to recent news item captioned R Systems shares jump 6% on reports of Coforge considering stake acquisition. The response from the Company is attached.
RSYSTEMS · price
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On the reaction day the stock moved 4.7 pts more than Nifty Microcap 250 and 5.5 pts more than its IT Enabled Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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R Systems International has responded to a query from NSE and BSE regarding a news article that reported Coforge was considering acquiring a stake in the company, which had caused R Systems' shares to jump 6%. The company has categorically denied the news, stating it has no factual basis. R Systems confirmed it is not engaged in any discussions or negotiations regarding such a transaction and is not aware of any undisclosed material information. The company also stated there will be no material impact on its business operations from the news article.
This is a denial of acquisition rumours, which could lead to short-term profit booking or a pullback in the stock price after the recent 6% jump. Shareholders should note that no concrete deal exists, and the price movement was based on unverified speculation.