OnMobile Global jumps after renewal deal with BSNL

OnMobile Global surged 6.99% to Rs 98 at 13:19 IST on BSE after the company said it has secured a renewal deal of ring back tones for 3 years with an option of further extension for 1 year with Bharat Sanchar Nigam for South & East zones.

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

Meanwhile, the S&P BSE Sensex was up 304.96 points or 1.26% at 24,493.33.

On BSE, so far 1.95 lakh shares were traded in the counter as against average daily volume of 2.47 lakh shares in the past one quarter. The stock hit a high of Rs 98.80 and a low of Rs 91.80 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 62 on 16 March 2015. The stock had underperformed the market over the past one month till 18 January 2016, declining 28.21% compared with Sensex's 5.22% fall. The scrip had, however, outperformed the market in past one quarter, declining 6.53% as against Sensex's 11.12% fall.

The small-cap company has equity capital of Rs 109.47 crore. Face value per share is Rs 10.

As per the agreement, OnMobile Global will continue to provide ring back tone customers in Bharat Sanchar Nigam (BSNL) in South & East zones with innovative ways to customize their calling experience for the next 3 years with an option to extend for the fourth year as well.

On consolidated basis, OnMobile Global reported net profit of Rs 1.26 crore in Q2 September 2015 as against net loss of Rs 1.21 crore in Q2 September 2014. Net sales declined 0.2% to Rs 206.98 crore in Q2 September 2015 over Q2 September 2014.

OnMobile, headquartered in Bangalore, and with offices across the globe, delivers over 50 crore music plays daily to mobile customers worldwide.

Powered by Capital Market - Live News