Subex Shares Rise On Deal With Southeast Asian Telecom Operator
Subex attributed the deal as an important development in its decade-long alliance with the operator.
Shares of Subex Ltd. rose over 4% on Thursday to the highest in over a week after it secured a deal with a telecom operator in southeast Asia.
The deal involves the deployment of Subex's state-of-the-art business assurance and fraud management solutions on HyperSense, the company said in an exchange filing on Wednesday.
Subex attributed the deal as an important development in its decade-long alliance with the operator.
On the NSE, Subex's stock rose as much as 4.43% during the day to Rs 38 apiece, the highest since Feb. 27. It was trading 2.76% higher at Rs 37.25 per share, compared to 0.03% advance in the benchmark Nifty 50 at 10:23 a.m.
The share price has risen 25.63% in the last 12 months. The total traded volume so far in the day stood at 0.8 times its 30-day average. The relative strength index was at 48.34.