OnMobile Global gains on plans to unveil new product portfolio

OnMobile Global rose 2.85% to Rs 124.30 at 11:35 IST on BSE after the company said that it has planned an event at Bangalore today, 19 October 2016 to unveil its new product portfolio and a consumer brand.

The announcement was made during market hours today, 19 October 2016.

Meanwhile, the S&P BSE Sensex was down 72.36 points or 0.26% at 27,980.17.

High volumes were witnessed on the counter. On BSE, so far 2.05 lakh shares were traded in the counter as against average daily volume of 88,548 shares in the past one quarter. The stock hit a high of Rs 126.50 and a low of Rs 122.80 so far during the day. The stock had hit a 52-week high of Rs 140.80 on 1 December 2015. The stock had hit a 52-week low of Rs 89.80 on 18 January 2016. The stock had outperformed the market over the past one month till 18 October 2016, gaining 13.05% compared with 1.92% fall in the Sensex. The scrip had, however, underperformed the market in past one quarter, rising 0.92% as against Sensex's 1.1% rise.

The mid-cap company has equity capital of Rs 104.27 crore. Face value per share is Rs 10.

OnMobile Global added that a press note in this regard will be issued later in the day after the event.

OnMobile Global reported consolidated net profit of Rs 9.33 crore for Q1 June 2016 as against net loss of Rs 6.57 crore for Q1 June 2015. The company's consolidated net sales declined 6.5% to Rs 188.61 crore in Q1 June 2016 over Q1 June 2015.

OnMobile Global, headquartered in Bangalore and with offices across the globe, delivers over 500 million music plays daily to mobile users worldwide.

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