The stock market was again on the upward trend today and the Sensex climbed 222.13 points to end at 51,531.52 points. At the same time, the Nifty also gained 66.80 points to close at 15,173.30. But today the 2 companies whose shares were on the stock exchange, were the routes of Route Mobile and Affle India. Stocks of these two companies today witnessed an upper circuit due to heavy trade volumes. Whereas Route Mobile stocks have an upper circuit of 20%, Affle India stocks have an upper circuit of 10%. With this, the stocks of both companies reached their alltime highs.
Today on the NSE, Route Mobile stocks jumped 20% and reached their record high of Rs 1523.30. At the same time, Affle India stocks were up 10% at Rs 5092.55 and freeze in the afternoon. Affle India stocks have gained over 22% so far this week. At the same time, the stock of Route Mobile has jumped more than 35% in a week. Foreign Portfolio Investors (FPIs) increased their stake in Route Mohile by 540 basis points between October and December 2020. FPIs’ stake in the company has now increased to 15.74%, up from 10.34% in the September quarter and 4.32% at the time of listing on the stock exchange.
The reason for this is the increase in stocks
Affle India has made tremendous gains in the December quarter. The company’s net profit rose 43.08% to Rs 30.69 crore in Q3, while the company’s net profit was only Rs 21.45 crore in the same period last year. Sales of the company jumped by 59.32% this financial year. Encouraged by this result, investors fiercely bought its stocks, which led to an upper circuit in the stocks. Whereas, Route Mobile has won 2 Gold Awards at the 2021 Juniper Awards for Telco Innovation for Innovation, which has supported its stocks.