Shares of Subex Ltd locked in 20% upper circuit after sealing a partnership with Reliance Jio platform
Shares of software solution company Subex soared 20% in Wednesday's trading as a result of a partnership with Jio Platforms Ltd (JPL) to expand its 5G product line.
As per the collaboration, JPL 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’s HyperSense Platform is a unified data analytics and AI orchestration platform, using technologies such as machine learning and AI. HyperSense assists with data preparation, model building and deployment, and insight generation. The platform also enables AI-driven real-time analytics across the 5G systems (Edge/Access/Transport/Core Networks) critical for superior customer experience, efficient operations and overall business profitability.
Commenting on the partnership, Aayush Bhatnagar, Senior Vice President of Jio Platforms said “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.
Subex Ltd is the leading global provider of Operation Support System solutions (OSS). It is organized into three distinct business units namely: Revenue Maximization Solutions, Fulfillment and Assurance Solutions and BT Business.
The shares of Subex quickly zoomed 20% in the early trades of August 3, driven by the Jio collaboration and were locked for the rest of the trading session.
The stock had logged a 52-week high and low of Rs 62.50 and Rs 18.70, respectively and with the recent surge in its stock price, it is still trading at half its 52-week high.
Investors should keep an eye on this stock for further action on August 4.
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