Subex soars on European order

Subex Ltd is trading 8% higher at Rs 59.10 after the company got selected by a leading European CSP to implement its industry-leading ROC Platform for interconnect billing and fraud management through managed services.

“The CSP, known to be a leading provider of television, broadband internet, and voice services, has operations across 10 countries in Europe. This is the sixth ROC contract that the company won over the past six months. The CSP saw significant value in the company’s superior technical capability, consistent delivery and proven track record” the company said in its statement.

This multi-million dollar contract is spread across 36 months and covers six countries. Subex will provide its ROC interconnect billing and fraud management solutions to the service provider through managed services.

The stock opened at Rs 55 and touched high of Rs 59.35 in late morning trades. The trading volume on the counter has jumped more than 100%, with 676,000 shares already changing hands so far, as compared to 314,000 shares that were traded daily in past two weeks.