Midcap Services Sector Stock Soon To Trade Ex- Dividend, " Buy" For 42 % Upside, Says HDFC Securities
Route Mobile Ltd on January 26, 2023, declared the Second Interim Dividend for the Financial year ending March 31, 2023.
HDFC Securities is bullish on the stock of Route Mobile, maintains " Buy" the stock with a target price of Rs 1,700 apiece implying 42% upside from its current level.
Route Mobile is a service sector mid cap stock.
It is among the leading Cloud Communications Platform service provider offering Communication Platform as a Service ( CPaaS) solutions.
It has a market capitalisation of Rs 7,487.04 crore.
The share price of Route Mobile was recorded on 1 February 2022 at Rs 1,888.90 apiece and the 52- week low on 23 June 2022 at Rs 1,052 apiece, respectively.
Since its listing on 21 September 2020, the stock gained 84 .48%.
Route Mobile Ltd Declared 2nd Interim Dividend
The Board of Director is givens of Route Mobile to the Second Interim Dividend of Rs. 6/- per equity share of Rs. 10/- each of the Company for the F. Y 2022 - 23."
HDFC Securities recommended buy the stock
Route's growth will be supported), by continued growth in messaging volume and firewall traction in new growth a areas like OTT and RCS.
Over. FY 22 - 25 E, we project revenue/EBITDA/EPS CAGRs of + 36/ 43/29%.
We initiate coverage on Route with BUY rating and TP of INR 1,700, valuing it at 25 x Dec- 24 E,, E EPS
The stock has been picked from the brokerage report of HDFC Securities.
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By Shubham Kumar Goodreturns source: goodreturns.in Dailyhunt