Small-Cap Subex Rallies 20% For 2nd Straight Day, Jumps Over 40% in 2 Sessions

  • Stock Market News
Small-Cap Subex Rallies 20% For 2nd Straight Day, Jumps Over 40% in 2 Sessions
Credit: © Reuters.

By Malvika Gurung -- Shares of the software company Subex (NS: SUBX ) soared 19.97% to Rs 39.95 apiece at 10:10 am on Thursday, extending its rally for the second day. The stock skyrocketed 20% and was locked in the upper circuit in the previous session too.

In the past two days, the software stock has surged almost 45% and over 52% in the past five sessions.

The company’s shares rallied on the announcement of entering into a partnership with the leading Indian telco Reliance (NS: RELI ) Jio Platforms on Tuesday for augmenting its 5G product line.

As per agreement details, Reliance Jio will offer its cloud-native 5G core to telecom companies globally, along with Subex’s HyperSense for aiding closed-loop network automation, product performance and customer experience analytics.

"By combining HyperSense with Jio Platforms’ Cloud Native 5G Core, CSPs will be able to fast track their 5G journey by leveraging the power of AI. Further, this partnership will allow operators to address multiple use cases around customer experience and revenue growth," said Subex’s CTO, Suresh Chintada.

The small-cap scrip is still down 36% from its 52-week high.

Subex provides telecom analytics solutions and AI-led digital trust products to communication service providers.

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