Home / Markets / News / Route Mobile surges 18%; stock zooms 134% against issue price in 3 days

Route Mobile surges 18%; stock zooms 134% against issue price in 3 days

The stock rallied 18% to Rs 818 in the intra-day trade today leading to a gain of 134% against the issue price of Rs 350 per share

Premium

The auto sector is seeing some green shoots, though analysts say meaningful recovery is unlikely in the near- to medium-term

SI Reporter Mumbai

3 min read Last Updated : Sep 23 2020 | 1:08 PM IST

Shares of Route Mobile surged 18 per cent to Rs 818 on the BSE in the intra-day trade on Wednesday after making a stellar debut earlier this week.

On Monday, the stock made a strong debut and ended at Rs 650, clocking a gain of 86 per cent against the issue price of Rs 350 per share. With today's rally, the stock has zoomed 134 per cent against the issue price.

A chunk of foreign portfolio investors (FPIs) like Goldman Sachs and Kuwait Investment Authority acquired shares worth of Rs 210 crore of the company on its debut.

Goldman Sachs India Fund Limited,

Topics : Route Mobile Limited Buzzing stocks Markets

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in