Subex Azure surges on takeover buzz

DALAL STREET SPIKES

Subex Azure surged 12.23 per cent to Rs 111.50 after media reports that a large company is picking up stake in the company from the open market by way of creeping acquisition. The scrip opened at Rs 101 and went on to achieve a high of Rs 113.35 and a low of Rs 101 during intra-day trading.

A total of 5, 638,020 shares of Subex Azure changed hands at the BSE. The scrip jumped 14.59 per cent in the last one month. According to the media report, low promoter holding has triggered large-scale buying interest on the counter.