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Subex shares locked in 20% upper circuit on partnership with Jio Platforms

Subex shares locked in 20% upper circuit on partnership with Jio Platforms

Subex stock was stuck in the upper circuit of 20% at Rs 33.30 against the previous close of Rs 27.70 on BSE.

The share trades higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages. The share trades higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages.

Shares of Subex zoomed 20% today after the software company said it has announced a partnership for its AI Orchestration Platform, HyperSense, with Jio Platforms that will augment the 5G product line of Reliance Industries telecom business.

Subex stock was stuck in the upper circuit of 20% at Rs 33.30 against the previous close of Rs 27.70 on BSE.

The stock opened with a gain of 20% on BSE. The share trades higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages.

The share has lost 44.59% in a year and fallen 38.56% in 2022. However in a week, the stock has gained 26.62%.

A total of 25.17 lakh shares of the firm changed hands, amounting to a turnover of Rs 8.37 crore. Market cap of the firm rose to Rs 1,871.47 crore on the BSE.

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The stock hit a 52-week high of Rs 62.50 on August 3,2021 and a 52 week low of Rs 18.70 on June 20, 2022.

As per the collaboration, Jio Platforms will offer its Cloud Native 5G Core to telcos globally along with Subex's HyperSense for enabling closed loop network automation, product performance and customer experience analytics.

"The JPL and Subex partnership provides new opportunities to enable end to end 5G services for enterprises and consumers. JPL's 5G stack complements the digital monetisation platforms of Subex to enable a wide range of 5G use cases", said Aayush Bhatnagar, Senior Vice President of Jio Platforms.

Subex provides operations and business support systems (OSS/BSS) to communication service providers (CSPs) in the telecom industry. Its segments include software products and software-related services. The company offers products and services such as HyperSense, Business Assurance, Fraud Management, Network Asset Management, Capacity Management, Partner Ecosystem Management, Analytics Center of Trust (ACT), Subex Secure, and IDcentral.