Route Mobile rises on launching TruSense
Today, the stock opened at Rs 1332.05 and has touched a high and low of Rs 1367.95 and Rs 1332.05 respectively.
Launch of TruSense
Route Mobile has launched TruSense, a digital identity and security suite that is critical to securing digital transactions through a reliable ecosystem, enabling businesses to authenticate the end user in a frictionless way. Trusense Identity will function as a dedicated Strategic Business Unit (SBU) under Route Mobile (UK). with its own product management and engineering development teams. The teams will be focused on building world-class products using expertise and technology from Route Mobile and Masivian S.A.S. -- a wholly-owned subsidiary of Route Mobile (UK).
The proliferation of connected devices accelerated digital transformation and the availability of inexpensive data has led to a proportionate increase in risks related to identity theft, forgery, sim swap, phishing, SMishing and online fraud. Activities like online transactions, onboarding activities, and KYC document verification require a secure platform that ensures that the end user is not an impersonator.
Stock Price Movement
At noon, the shares of Route Mobile were trading at Rs 1353.10, up by 11.35 points or 1.16% from its previous closing of Rs 1337.55 on the BSE. The stock opened at Rs 1332.05 and has touched a high and low of Rs 1367.95 and Rs 1332.05 respectively. The BSE group 'A' stock of face value of Rs 10 has touched a 52-week high and low of Rs 1727.25 and Rs 1052.60, respectively. Last one week high and low of the scrip stood at Rs 1374 and Rs 1293.65 respectively. The current market cap of the company is Rs 8435.11 crore.
The promoters holding in the company stood at 58.44%, while Institutions and Non-Institutions held 28.32% and 13.24% respectively.
Route Mobile is a Cloud Communication Platform provider, catering to enterprises, over-the-top (OTT) players and mobile network operators (MNO). Their product portfolio includes smart solutions in Messaging, Voice, Email, SMS Filtering, Analytics and Monetization. It was incorporated in 2004.
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