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    543228   INE450U01017

ROUTE MOBILE LIMITED

(543228)
  Report
End-of-day quote Bombay Stock Exchange  -  2022-08-04
1475.65 INR   +2.04%
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Indian shares rise as automakers enjoy best day in over two years

06/23/2022 | 06:53am EDT

BENGALURU, June 23 (Reuters) - Indian shares bucked a broader downturn on Thursday as weak metal and oil prices drove beaten-down automakers to their best day since April 2020.

The NSE Nifty 50 index rose 0.93% to 15,556.65, while the S&P BSE Sensex climbed 0.86% to 52,265.72.

The indexes have added around 1.7% so far this week, after two consecutive weeks of decline fuelled by concerns over interest rate hikes and growth.

Aiding sentiment on Thursday was a further retreat in crude prices as investors assessed recession risks and the impact of higher rates on fuel demand. Cheaper oil tends to benefit oil-importing countries like India.

"Fall in crude oil prices gave some respite to the market, although concerns of persistent foreign investor selling and rising bond yields in the U.S. will continue to keep traders on edge," said Shrikant Chouhan, head of equity research (retail) at Kotak Securities.

Analysts also said central bank commentary that inflation was expected to come down to 4% in 2023-24 was underpinning sentiment.

The Nifty Auto index was the best performing subindex, surging 4.4%. Recession worries sent metal prices sharply lower, boosting automakers which have grappled with rising input costs for several quarters.

The auto index had fallen around 6% this month, up to last close.

India's largest carmaker Maruti Suzuki gained the most on the Nifty 50, rising 6.3% to its highest since late February. Truckmaker Eicher Motors and two-wheeler maker Hero MotoCorp jumped 5.9% each.

Bajaj Auto jumped 4.1% after the two- and three-wheeler maker said it would consider a share buyback on Monday, after deferring the proposal last week.

Route Mobile also surged 8.5% on share buyback plans.

India's largest company Reliance Industries slipped for a second straight day, ending 1.6% lower and capping gains on the Nifty. (Reporting by Chris Thomas in Bengaluru; Editing by Devika Syamnath)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BAJAJ AUTO LIMITED 0.03% 4013.1 End-of-day quote.23.51%
EICHER MOTORS LIMITED -1.81% 3087.45 End-of-day quote.19.21%
HERO MOTOCORP LIMITED -1.33% 2769.25 End-of-day quote.12.51%
LONDON BRENT OIL 1.50% 95.27 Delayed Quote.20.17%
MARUTI SUZUKI INDIA LTD 0.78% 8927.65 Delayed Quote.19.05%
NIFTY 50 -0.03% 17409.25 Delayed Quote.0.25%
RELIANCE INDUSTRIES LTD 0.77% 2560.7 Delayed Quote.7.00%
ROUTE MOBILE LIMITED 2.04% 1475.65 End-of-day quote.-17.09%
S&P GSCI CRUDE OIL INDEX 0.34% 488.1835 Real-time Quote.17.72%
SENSEX BSE30 0.15% 58387.93 Real-time Quote.0.23%
WTI 1.46% 89.286 Delayed Quote.16.80%
All news about ROUTE MOBILE LIMITED
08/04Route Mobile Limited Announces Final Dividend for the Year Ended March 31, 2022
CI
07/29Route Mobile Limited Reports Earnings Results for the First Quarter Ended June 30, 2022
CI
06/30Route Mobile Arm to Automate Coca-Cola UAE's Customer Experience
MT
06/30Route Mobile Limited Recommends Final Dividend for the Fiscal Year 2021-22
CI
06/29Indian shares fall; crude producers jump on sale deregulation
RE
06/28Route Mobile Gets Board Nod for $15 Million Share Buyback Plan
MT
06/28Route Mobile Limited announces an Equity Buyback for INR 1,200 million worth of its sha..
CI
06/28Route Mobile Limited authorizes a Buyback Plan.
CI
06/23Indian shares rise as automakers enjoy best day in over two years
RE
06/23ROUTE MOBILE : Buyback - Open Market
PU
More news
Financials
Sales 2023 30 180 M 380 M 380 M
Net income 2023 2 203 M 27,7 M 27,7 M
Net Debt 2023 - - -
P/E ratio 2023 41,6x
Yield 2023 0,44%
Capitalization 92 146 M 1 161 M 1 161 M
Capi. / Sales 2023 3,05x
Capi. / Sales 2024 2,59x
Nbr of Employees 936
Free-Float 39,8%
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 1 475,65 INR
Average target price 1 502,50 INR
Spread / Average Target 1,82%
EPS Revisions
Managers and Directors
Rajdip Kumar C. Gupta Group CEO, Managing Director & Executive Director
Suresh Jankar Chief Financial Officer
Chandrakant J. Gupta Chairman
Mujahid Rupani Group Chief Technical Officer
Sammy Mamdani Executive Vice President & Head-Global Operations
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