Subex up 5%

DALAL STREET SPIKES

The Subex scrip rose 5 per cent to Rs 89.25 after the Reserve Bank of India allowed the company to proceed with a proposed restructuring of unsecured foreign currency convertible bonds by way of an exchange offer.

The company has got the nod to restructure $180 million convertible unsecured bonds due in 2012. In the last four trading sessions, the stock has risen 16 per cent as compared to a 3 per cent fall in the Sensex.