Route Mobile stock surges 17% to reach 30-month high, gains 24% in 5 sessions; what's behind the rally?

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Route Mobile, a prominent provider of cloud communications platform services, experienced another exceptional day as its shares surged by 17.3% to reach a 30-month high of ₹1,930 apiece, taking the five-day gains to 24%.Today's rally in shares came after the company, during market hours, through an exchange filing, said that its holding company, Proximus Group, and Microsoft signed a 5-year strategic partnership for collaboration on digital communications and cloud.The company said that the newly formed strategic partnership between Microsoft and Proximus will allow both parties to leverage their respective expertise and product leadership, accelerated by the power and potential of AI applications and solutions.Also Read: Sylvan Plyboard IPO share allotment to be finalised today: How to check status? A step-by-step guideThe strategic partnership between Microsoft and Proximus aims to leverage their expertise in AI and cloud services across three main areas. Firstly, they will enhance Communication Platform as a Service (CPaaS) and Digital Identity (DI), improving customer engagement and security.Secondly, Proximus will migrate key platforms to Azure cloud services, enhancing scalability and security while integrating AI technologies.

Finally, Microsoft will support Proximus in optimising its go-to-market strategy for Microsoft products in Belgium, strengthening Proximus' role as a top-tier Microsoft reseller.This partnership promises to drive innovation, improve service delivery, and secure digital communications and operations, according to the company's exchange filing.Also Read: RIL shares hit lifetime high for second day in a row. Rises 6.50% in three daysThis week marked another significant achievement for Route