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Subex shares rise 5% as AI company inks $2.2 million deal

Subex shares rise 5% as AI company inks $2.2 million deal

The stock of software products firm rose 4.88% to Rs 38 today against the previous close of Rs 36.23 on BSE. Market cap of the firm rose to Rs 2,070.42 crore.

Aseem Thapliyal
Aseem Thapliyal
  • Updated Mar 7, 2024 9:53 AM IST
Subex shares rise 5% as AI company inks $2.2 million dealSubex stock is trading higher than the 5 day, 10 day, 100 day, 200 day moving averages but lower than the 20 day and 50 day moving averages.
SUMMARY
  • Subex stock has a one-year beta of 0.6, indicating low volatility during the period
  • In terms of technicals, the relative strength index (RSI) of Subex stands at 44.6, signaling the stock is trading neither in the overbought nor in the oversold territory.
  • Total 1.80 lakh shares of the firm changed hands amounting to a turnover of Rs 67.35 lakh in early deals today.

Shares of Subex Ltd rose nearly 5% in early deals today after the telecom AI company said it has won a five-year deal worth $2.2 million with a leading 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 contract is to be executed in five years.

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The stock of software products firm rose 4.88% to Rs 38 today against the previous close of Rs 36.23 on BSE. Market cap of the firm rose to Rs 2,070.42 crore. 

The stock opened higher at Rs 37.90 on BSE today. It fell to a 52-week low of Rs 25 on March 28, 2023 and a 52-week high of Rs 45.80 on February 7, 2024 this year.  

Total 1.80 lakh shares of the firm changed hands amounting to a turnover of Rs 67.35 lakh in early deals today. 

Subex stock has a one-year beta of 0.6, indicating low volatility during the period

In terms of technicals, the relative strength index (RSI) of Subex stands at 44.6, signaling the stock is trading neither in the overbought nor in the oversold territory. The stock is trading higher than the 5 day, 10 day, 100 day, 200 day moving averages but lower than the 20 day and 50 day moving averages.

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The deployment facilitates the application of AI and ML technologies for early risk identification, automates complex fraud detection processes, and enables the customization of ML models to adapt to emerging challenges. It also promises to offer unparalleled scalability and flexibility in handling vast data volumes, significantly lowering the Total Cost of Ownership (TCO).

Nisha Dutt, CEO of Subex, said, "Subex is excited to work with one of the leading operators in APAC on this transformative journey. Our AI-driven Fraud Management and Business Assurance solutions will revolutionize the operator’s approach to Risk Management. This collaboration is about future resilience and growth, accelerating innovation in the 5G era. We are proud to contribute to the operator’s vision, ensuring they remain a trusted provider of digital solutionsto their consumers while creating meaningful connected experiences. This enduring alliance takes a strategic step towards aligning business and IT objectives, enhancing operational efficiency, and positioning the operator as a world-class player in the digital telecom sphere."

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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.

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Mar 7, 2024 9:53 AM IST
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