India's Route Mobile hits 1-month high on Saudi CITC license win

Route Mobile

22/11/2022 05:34

** Shares of company Route Mobile Ltd  ROUT.NS  rise as much
as 2.74% to 1,360 Indian rupees, their highest level since Oct.
21
    ** The cloud communications platform service provider said
it will open a local sales office in Riyadh and operate as Route
Mobile Arabia Telecom Limited, according to an exchange filing 
    ** ROUT obtained regulatory license from Saudi Arabia's 
Communications and Information Technology Commission (CITC)
    ** Co plans to expand through omnichannel communication like
SMS, email, WhatsApp, and in-app notifications, said Sharad
Thukral, EVP & Business Head - MEA, Route Mobile LLC
    ** More than 71,000 shares traded, 0.5x times their 30-day
moving avg 130,998 shares
    ** Five of the six analysts covering the stock have a "buy"
or higher rating, while one rates it at "hold"; median PT is
1,699 rupees - Refinitiv data
    ** Stock down 25.7% so far this year, up to last close
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))