IT stock Subex Ltd jumps 20% and hits upper circuit for 2nd consecutive day after partnership with Jio Platforms

Subex Ltd hits the upper circuit for 2nd consecutive day.

IT stock Subex Ltd jumps

Subex Limited is an Indian enterprise software company based out of Bengaluru and founded in 1992 by Subash Menon and Alex Puthenchira. The company belongs to the smallcap segment, and the market capitalization of the company is around Rs 2200 crores. The current CEO and MD of the company is Vinod Kumar. Under his leadership, the company has expanded into IoT, Digital Trust and Artificial Intelligence (AI). The company has also launched an enterprise augmented analytics software called HyperSense which is native to the cloud in April 2021.

On the 3rd of August, as per the filings made by the company, it partnered with Jio Platforms Limited (JPL) for its HyperSense division. JPL will offer in partnership with HyperSende its core 5G services to telecom companies globally. This partnership will help the enterprise consumers to improve product performance, enable a closed-loop network and enhance the customer experience analytics. 

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Stock price of Subex Ltd

In response to the news of the partnership with JPL, the stock price of Subex Ltd has started increasing on the bourses. The stock price has increased by 52% in the last 5 days, and the stock has been on an upper circuit for the last 2 days. The current market price of the stock is Rs 39.95. The price 5 days back was Rs 26.2, implying a 52.48% return. 

As far as the YTD returns of the stock are concerned, the YTD return is -26.63%. The 6-month return is -10.22%. The 1 Year return is -31.24%. But in the last 5 years, the stock price has more than doubled as the return is 104.35%. Thus, the current uptrend of the stock because of the JPL partnership is a very significant movement in the stock. 

Related: This stock went from Rs 39 to Rs 104 in just 21 days!

The stock price of Subex Ltd has started increasing in the last 5 days on the back of the partnership with JPL. It is expected to gain from the partnership, and its HyperSense division can benefit from the partnership. HyperSense is an AI orchestration platform and a data analytics platform which makes use of technologies like AI and machine learning. The partnership, as per the statement, will help JPL provide comprehensive services to businesses. As per Aayush Bhatnagar, Senior VP at Jio Platforms, the JPL’s 5G stack complements the digital monetization platform of Subex, and it will enable the firm to provide a wide array of 5G services.

Also know about these 7 Tech stocks in India that are expected to benefit from 5G

Jio 5G Deal, Stock 20% UC 💥Subex Share News 

Disclaimer: This article is intended for general information purposes only and should not be construed as investment or legal advice. You should separately obtain independent advice when making decisions in these areas.

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