Subex rebounds on winning five year contact from MTN

Subex Limited is trading higher by 10% at Rs 14.67, bouncing back 21% from intra-day low after the company said that it has been awarded a five-year deal to deploy its industry leading revenue operations centre (ROC) fraud management and revenue assurance solutions across 14 networks of the MTN Group.

MTN is the largest operator in Africa and the Middle East, with over 170 million subscribers.

“As part of a turn-key mode, along with hardware vendors, the company will provide ROC fraud management and revenue assurance solutions to supper MTN’s network, “Subex said in a filing.

The stock opened at Rs 13.25 and hit a record low of Rs 12.60 on the NSE. A combined 2.84 million shares have changed hands on the counter till early noon deals.