India's Route Mobile hits upper circuit on report of co eyeing acquisitions

Route Mobile

01/12/2020 06:54

** Shares of mobile communication services provider
 ROUT.NS  rise 5% to 1106.95 rupees in morning trading, hitting
upper circuit for third straight session 
    ** Mumbai-based co eyeing 2 acquisitions in areas of
conversational AI and virtual contact centre, CEO Rajdipkumar
Gupta told PTI https://economictimes.indiatimes.com/tech/tech-bytes/route-mobile-eyes-two-acquisitions-to-strengthen-its-offerings/articleshow/79490482.cms
 on Monday 
    ** Cash-and-stock acquisitions to be in range of 2.5 bln
rupees ($34.01 mln)-3 bln rupees valuation - report
    ** Route Mobile did not immediately respond to a Reuters
request for comment
    ** At current levels, stock also touches nearly a month high
    ** Co in Sept made its market debut with a premium of 105%
over its issue price of 350 rupees
    
($1 = 73.5020 Indian rupees)

 (Reporting by Vibhuti Sharma in Bengaluru)
 ((RM: vibhuti.sharma.thomsonreuters.com@reuters.net))