OnMobile Global, a provider of telecommunications value added software products and services in India, has surged to a high of Rs 579.90 before closing the day at Rs 521.90, up 18.61% over its offer price of Rs 440 per share. The stock opened at Rs 440 and hit a low of Rs 421 in morning trade. It traded with volumes of 1,97,15,324 shares on the BSE.
In an interview with CNBC-TV18, Arvind Rao, CEO & MD, Onmobile Global said they see 60-65% topline growth over the next three years and that they will maintain margins at current or higher levels for the next three years.
Rao also said that their ring back services are generating ARPUs of 9-12% for providers and that they are seeing decent traction on ARPUs. He added that the company is looking at two more overseas acquisitions in the next 12-18 months.
On the NSE, the stock went up by 17.76% or Rs 78.15, to settle at Rs 518.15, with volumes of 2,58,95,949 shares. It touched a high/low of Rs 579 and Rs 411, respectively. The turnover was at Rs 1,366 crore.
The company had entered capital market with a public issue of 1.09 crore equity shares at a price band of Rs 425-450 and got subscribed 10.95 times.
Source: Moneycontrol.com
Tuesday, February 19, 2008
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