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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.

<div class="paragraphs"><p>Image used for representational purpose (Source: Subex/Facebook)</p></div>
Image used for representational purpose (Source: Subex/Facebook)

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.

Subex Shares Rise On Deal With Southeast Asian Telecom 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.

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