India's R Systems International rises on merger approval

R Systems International

11/09/2024 09:59

** Shares of digital engineering services co R Systems
International  RSYS.NS  rise as much as 3.8% to 515 rupees
    ** RSYS says its board has approved merger of units Velotio
Technologies, Scaleworx Technologies with co
    ** Velotio Technologies and Scaleworx Technologies are IT
service providers
    ** Says, merger will help in greater operational and
management efficiencies, revenue and cost synergies    
    ** More than 188,000 shares change hands, 1.3x of 30-day avg
    ** Stock last up 1.5%, cutting YTD loss to 8.3%




 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))