India's Route Mobile gains most in a month on outlook upgrade

Route Mobile

28/09/2022 07:58

** Shares of Route Mobile Ltd  ROUT.NS  extend gains on
Wednesday, rising as much as 5.3% to 1,393 Indian rupees
($17.00), their biggest pct gain since Aug. 26
    ** ROUT expects to clock record revenue in September
quarter, upgrades FY23 growth outlook to around 60% from 50% -
Chief Strategy Officer Gautam Badalia told CNBC TV-18 on
Tuesday, sending the shares up 2.3% on close
    ** Co does not see impact on margin despite increased
competition - Badalia adds
    ** More than 392,000 shares change hands by 0644 GMT, 1.4x
30-day avg of nearly 286,00 shares
    ** Five of the six analysts covering the stock have a "buy"
or "strong buy" rating, while one "hold;" median PT is 1,565.50
rupees - Refinitiv data
    ** Stock down 25.8% so far this year, up to last close vs
S&P BSE Telecommunication Index's  .SPBSTLIP  6.9% fall
($1 = 81.9180 Indian rupees)
 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))