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Route Mobile hits new high as FPIs increase stake; zooms 100% since listing

In the December quarter, FPIs increased stake in the company by 540 basis points to 15.74% from 10.34% at the end of September quarter

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Route Mobile had made a stellar debut at the bourses with a gain of 86 per cent against its issue price of Rs 350 per share

SI Reporter Mumbai
Shares of Route Mobile hit a new high of Rs 1,304 apiece, up 5 per cent, on the BSE on Wednessay supported by heavy volume. The stock was quoting at its highest level since its listing at the bourses and has doubled from level of Rs 651 hit on September 21, 2020.

In the past six trading days, Route Mobile has outperformed the market by surging 16 per cent after the shareholding pattern revealed that foreign portfolio investors (FPIs) have increased their stake in the company by 540 basis points (bps) during October-December quarter (Q3FY1). FPIs held 15.74 per

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