The stock fell 8 percent on July 17 after the announcement. Around 76 lakh Route Mobile stocks changed hands on July 17, which is 10 times more than its monthly traded average.
The firm said its promoter will sell around 36.41 million shares or 57.16 percent stake. Promoters are in pact with Proximus Opal SA to sell their entire shareholding at an average price of Rs 1626.40 each.
Divis Laboratories continued to see healthy volumes for yet another session. It jumped 3.7 percent to Rs 3,385.8, the highest closing level since May 10 and formed long bullish candlestick pattern on the daily scale for second consecutive session.
HDFC Securities is bullish on Route Mobile has recommended buy rating on the stock with a target price of Rs 1735 in its research report dated May 19, 2023.
TruSense will operate as a dedicated strategic business unit under Route Mobile (UK). It will cater to the requirement of "securing digital transactions through a reliable ecosystem, enabling businesses to authenticate the end user in a frictionless way", a release said.
Route mobile was also in focus, rising 1.4 percent to Rs 1,247 and formed bullish candle with long upper shadow on the daily charts, indicating some profit booking at higher levels.