Subex shares rose 30% in two sessions; here’s why
On Friday, the stock of software products firm ended 20% higher on the development. The stock opened higher at Rs 35.19 on BSE today.
- Jul 17, 2023,
- Updated Jul 17, 2023 11:28 AM IST
Shares of Subex Ltd zoomed to an upper circuit of 10% today after the company said its fraud management solution was now available on Google Cloud. On Friday, the stock of software products firm ended 20% higher on the development. The Subex stock has zoomed 30% in two sessions. The stock jumped 10 per cent to Rs 37.35 today against the previous close of Rs 33.94 on BSE. Market cap of the firm rose to Rs 2025 crore.
The stock closed 20% higher in the last trading session at Rs33.94. The stock opened higher at Rs 35.19 on BSE today. The stock hit a 52-week low of Rs 25 on March 28, 2023 and a 52-week high of Rs 48.25 on August 8, 2022 this year.
Total 58.64 lakh shares of the firm changed hands amounting to a turnover of Rs 21.19 crore in today’s session.
In terms of technicals, the relative strength index (RSI) of Subex stands at 76.3, signaling it's trading in the overbought territory. Subex stock has a one-year beta of 1.2, indicating high volatility during the period. The stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
"This collaboration combines Subex's extensive fraud management expertise with the unparalleled scalability, reliability, security, advanced analytics, and robust partner ecosystem offered by Google Cloud. This joint venture will improve fraud prevention in the telecommunications industry," the company said.
Telecom companies seeking a comprehensive and advanced cloud platform can now leverage Subex Fraud Management on Google Cloud to significantly enhance their fraud detection and prevention capabilities, it added.
"With Google Cloud's scalability, fraud management systems can handle ever-increasing volumes of data and transactions, adapt to dynamic fraud patterns, and seamlessly scale resources as needed. Moreover, the robust security features provided by Google Cloud, including encryption and identity management, ensure the protection of sensitive customer data and the integrity of the fraud management system. Telcos can trust in the secure environment offered by Google Cloud to safeguard their operations and protect customers from fraudulent activities," it mentioned.
Subex said Google Cloud's advanced analytics capabilities, such as BigQuery and PubSub, empower fraud management systems to efficiently analyse vast amounts of data in the near real-time.
"This enables accurate pattern detection and identification of potential fraudulent activities. By leveraging these capabilities, fraud management systems enhance their efficiency in detecting and preventing fraud, ensuring the security of businesses and customers. Businesses can also unlock significant total cost of ownership benefits by utilising Google Kubernetes Engine (GKE) on Google Cloud," it stated.
Subex Limited is a provider of operations and business support systems (OSS/BSS) to communication service providers (CSPs) worldwide in the telecom industry. The company operates across North America, South America, Canada, Europe, Middle East, Singapore, Australia and Bangladesh. The company’s products and services include HyperSense, Fraud Management, Business Assurance, Capacity Management, Partner Ecosystem Management, Analytics Center of Trust, IDcentral, and Sectrio.
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Shares of Subex Ltd zoomed to an upper circuit of 10% today after the company said its fraud management solution was now available on Google Cloud. On Friday, the stock of software products firm ended 20% higher on the development. The Subex stock has zoomed 30% in two sessions. The stock jumped 10 per cent to Rs 37.35 today against the previous close of Rs 33.94 on BSE. Market cap of the firm rose to Rs 2025 crore.
The stock closed 20% higher in the last trading session at Rs33.94. The stock opened higher at Rs 35.19 on BSE today. The stock hit a 52-week low of Rs 25 on March 28, 2023 and a 52-week high of Rs 48.25 on August 8, 2022 this year.
Total 58.64 lakh shares of the firm changed hands amounting to a turnover of Rs 21.19 crore in today’s session.
In terms of technicals, the relative strength index (RSI) of Subex stands at 76.3, signaling it's trading in the overbought territory. Subex stock has a one-year beta of 1.2, indicating high volatility during the period. The stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.
"This collaboration combines Subex's extensive fraud management expertise with the unparalleled scalability, reliability, security, advanced analytics, and robust partner ecosystem offered by Google Cloud. This joint venture will improve fraud prevention in the telecommunications industry," the company said.
Telecom companies seeking a comprehensive and advanced cloud platform can now leverage Subex Fraud Management on Google Cloud to significantly enhance their fraud detection and prevention capabilities, it added.
"With Google Cloud's scalability, fraud management systems can handle ever-increasing volumes of data and transactions, adapt to dynamic fraud patterns, and seamlessly scale resources as needed. Moreover, the robust security features provided by Google Cloud, including encryption and identity management, ensure the protection of sensitive customer data and the integrity of the fraud management system. Telcos can trust in the secure environment offered by Google Cloud to safeguard their operations and protect customers from fraudulent activities," it mentioned.
Subex said Google Cloud's advanced analytics capabilities, such as BigQuery and PubSub, empower fraud management systems to efficiently analyse vast amounts of data in the near real-time.
"This enables accurate pattern detection and identification of potential fraudulent activities. By leveraging these capabilities, fraud management systems enhance their efficiency in detecting and preventing fraud, ensuring the security of businesses and customers. Businesses can also unlock significant total cost of ownership benefits by utilising Google Kubernetes Engine (GKE) on Google Cloud," it stated.
Subex Limited is a provider of operations and business support systems (OSS/BSS) to communication service providers (CSPs) worldwide in the telecom industry. The company operates across North America, South America, Canada, Europe, Middle East, Singapore, Australia and Bangladesh. The company’s products and services include HyperSense, Fraud Management, Business Assurance, Capacity Management, Partner Ecosystem Management, Analytics Center of Trust, IDcentral, and Sectrio.
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Also read: LTIMindtree, HDFC Bank, Tata Elxsi shares mixed ahead of Q1 results. Analyst viewsA