India's Route Mobile rises most in 6 wks on agreement with Sri Lankan MNO

Route Mobile

12/01/2023 04:11

** Shares of communication platform service provider Route
Mobile Ltd  ROUT.NS  rise as much as 5.1% to 1,250 rupees
    ** Stock's largest intraday pct gain since Dec. 1 and its
highest level since Dec. 22
    ** Co says it signed agreement with a leading Mobile Network
Operator (MNO) in Sri Lanka to serve as exclusive partner for
two years
    ** ROUT did not name the MNO but says the engagement creates
revenue potential of 1.3 bln rupees ($15.92 mln)
    ** Stock looks to snap six consecutive days of losses if
gains hold
    ** Almost 85,000 shares traded as of 9:23 am IST, equalling
the 30-day moving average
    
($1 = 81.6420 Indian rupees)
 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com;))