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OnMobile Global Zooms 7.5% after launching SaaS-based Gaming Platform

16 May 20233 mins read by Angel One
The stock price of OnMobile Global Ltd has jumped over 7.5% backed by strong volumes, highlighting active participation from the market participants on Tuesday.
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The frontline indices are trading with the shade of red on D-Street with Nifty and Sensex down by 0.20% and 0.25%, respectively. That said, the broader markets are performing exceptionally well. The Nifty Midcap and Smallcap index were seen relatively outperforming the frontline gauge as they surged 0.77% and 0.61%, respectively.   

Amidst the buoyant mood in the broader markets, one stock that has caught investors eye from the Smallcap segment is OnMobile Global Ltd.   

OnMobile Global Ltd is the leader in cutting-edge mobile gaming and entertainment. It is focused on building customer-first Mobile Gaming products while offering a wide array of digital products such as Videos, Tones, & Contests. Based on current deployments, OnMobile has over 83 million monthly users globally.   

The stock price of OnMobile Global Ltd has jumped over 7.5% backed by strong volumes highlighting active participation from the market participants on Tuesday. Total traded volume on NSE has crossed the 23 lakhs share so far, which is highest in the last few weeks. With this strong move, the stock has recorded almost a fresh 3-month high. 

So, what’s the key catalyst behind the surge in the stock price? OnMobile Global has launched its first-ever SaaS-based gamification platform for brands across industries, called Gamize, as a critical step in the transformation journey for its global business in this new fiscal year, with Banglalink as its first partner.   

Gamize, a SaaS-based Gamification platform, will provide completely customizable, industry agnostic solutions for acquiring, engaging and retaining users for a brand’s website or app. Where sustaining customer loyalty in today’s highly competitive markets is a challenge and decreasing customer acquisition costs and reducing churn are obstacles in every business; Gamize intends to leverage the natural tendencies of people for competition, achievement and getting rewarded by modifying user behaviour with gamification techniques, helping customers nudge the user to complete or perform activities which are meaningful to them while rewarding such behaviours.  

The platform also uses methods via gamification to help customers increase users through referrals which helps keep customer acquisition costs lower. Gamize is built on a strong product platform which enables customers to deploy in a couple of days with out-of-the-box integrations and develop and launch campaigns in a few minutes rather than weeks. Gamize will bring a robust partner ecosystem to OnMobile with not just Enterprise customers but even SMBs, which allows them to leverage digital transformation modules and OnMobile’s Global presence to help grow their business across the globe.   

Keep this stock below Rs 100 on your watchlist.   

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