Datamatics Global Services saw its shares bounce back from a nearly 20% decline in Monday’s session as the company clarified rumours. Shares of the data technology firm surged as much as 14.44% during the trading session on Tuesday to reach an intraday high of Rs 617.05. 

In a statement to the leading stock exchanges National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), the IT consultancy company clarified the rumours about cancelling a significant partnership deal.

Executive Vice President (EVP), Chief Legal Officer & Company Secretary of Datamatics Divya Kumat submitted the clarification statement to the domestic bourses on Tuesday, July 18.

The company said in the statement that the rumours are just speculations made by the public and are ‘false and baseless’. It added that it had made all the necessary disclosures to NSE and BSE per SEBI regulations. 

The company said that it had not withheld any material information or announcement or impending announcement that would have an impact or bearing on the price or volume behaviour of the scrip.

At 02:45 pm, the stock was trading at Rs 606, up 12.40% from the previous close price on the NSE. Datamatics’ stock has given spectacular returns of 114.5% on a year-to-date (YTD) basis.