Route Mobile doubles on listing amid IPOs season
Cloud communication platform provider Route Mobile hit a century on its market debut, witnessing 102% gains over its issue price. The activity in the primary market (IPOs) is expected to remain high as three more companies hit the street this week. Computer Age Management Services (CAMS) and Chemcon Speciality Chemicals IPOs opened for subscription today and the Angel Broking IPO will open tomorrow. Together, these IPOs are expected to raise around ₹3,160 crore from the market.
HCL surges intraday over plans to acquire DWS
The stock of IT major HCL Technologies spiked nearly 5% in intraday trade—hitting a lifetime high—after the company announced its intention to acquire Australian IT firm DWS. The acquisition will help HCL enhance its presence in Australia and New Zealand. However, the stock later succumbed to overall selling witnessed in the market and ended the day with a loss of nearly 1%.