Tuesday , Sept. 24, 2024, 12:51 a.m.
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Business / Mon, 24 Jun 2024 CNBCTV18

Route Mobile shares turn positive for 2024 after Monday's 14% surge; Here's why

NSEHow to use this service₹Shares of Route Mobile Ltd. were trading with gains of up to 14% on Monday, June 24. To purchase tickets, they will have to visit the official WhatsApp account of the respective metro, choose the stations, make the payment, and receive tickets directly from the WhatsApp interface. By enabling ticket booking on WhatsApp for four major cities, we have become one of the largest enablers in this space. These kinds of unique customer journeys are what the engineering and product teams try to solve on a daily basis in Route Lab. With today's gain, the stock has turned positive for the year.

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Shares of Route Mobile Ltd. were trading with gains of up to 14% on Monday, June 24. The sharp uptick in share price came after the company announced that it has inked a pact with Billeasy and enabled WhatsApp-based ticketing for Nagpur, Pune, Hyderabad and Delhi Metro(s), becoming the largest enabler for such services in India.Over 75 lakh commuters use these metros every day. To purchase tickets, they will have to visit the official WhatsApp account of the respective metro, choose the stations, make the payment, and receive tickets directly from the WhatsApp interface. They can also pay for the ticket right from WhatsApp, the company said in a filing.Currently, 15 cities in India have active metro services, and Route Mobile has already enabled this solution for four of them.Route Mobile first launched this service for Delhi Metro in the second half of 2023. Now, they have enabled this service for three additional cities – Nagpur, Pune and Hyderabad.The user has to chat with the official WhatsApp account of the metro, follow the simple instructions like selecting ‘from’ and ‘to’ stations and number of tickets and make the payment via their preferred payment method (UPI, Net banking, Credit or debit cards).Upon successful completion, the user will receive the tickets as a WhatsApp message in the form of a link that will open the QR ticket which they can present at the time of entering the station and complete their journey.Speaking about this development, Rajdipkumar Gupta, Managing Director and Group CEO of Route Mobile, said, "Our focus is on creating some very unique solutions powered by messaging channels that revolutionise the way customers interact with brands. By enabling ticket booking on WhatsApp for four major cities, we have become one of the largest enablers in this space."He added, "Any large-scale deployment needs to be supported by an equally capable infrastructure. This deployment showcases Route Mobile's network capability and scalability. These kinds of unique customer journeys are what the engineering and product teams try to solve on a daily basis in Route Lab."At 1:10 pm, the scrip was trading 9.11% higher at1,669 apiece on the NSE. With today's gain, the stock has turned positive for the year.

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