Shares of Subex Ltd were locked in upper circuit for the third consecutive session today after the firm announced a partnership for its AI Orchestration Platform, HyperSense, with Jio Platforms. The move will augment the 5G product line of Reliance Industries telecom business.
Stock of Subex rose 10 per cent to Rs 43.90 in early trade against the previous close of Rs 39.95 on BSE. The stock has risen over 58 per cent since the close of August 2 when the news of partnership was announced. The stock, which closed at Rs 27.70 on August 2, rose to Rs 43.90 today, translating into a gain of 58.48 percent during the period.
On August 3, the Subex stock was stuck in the upper circuit of 20 per cent at Rs 33.30 and closed at the same level on BSE. In the next session, the stock opened higher at Rs 39.40 and later was stuck in the upper circuit of 20 per cent at Rs 39.95. It closed at the same level on August 4. Subex stock opened with a gain of 7.01 per cent at Rs 42.75 today.
Later, it was stuck in the upper circuit of 10 percent. The stock has gained 70.16 per cent in the last 6 days. Shares of Subex are trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. A total of 26.65 lakh shares of the firm changed hands, amounting to a turnover of Rs 11.52 crore. Market cap of the firm rose to Rs 2,467 crore on the BSE.
The stock hit a 52-week high of Rs 61.95 on August 9, 2021 and a 52-week low of Rs 18.70 on June 20, 2022. In a month, the stock has risen 80 per cent. However, the stock has lost 24.83 per cent in a year and fallen 24.83 per cent in 2022.
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.
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.
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