Subex rose 6.59% to Rs 13.11 at 13:28 IST on BSE after the company said its board will consider fund raising on 12 September 2016.
The announcement was made during trading hours today, 7 September 2016.Meanwhile, the BSE Sensex was up 8.21 points, or 0.03%, to 28,986.23.
On BSE, so far 14.50 lakh shares were traded in the counter, compared with average daily volume of 24.23 lakh shares in the past one quarter. The stock hit a high of Rs 13.20 and a low of Rs 12.19 so far during the day. The stock hit a 52-week high of Rs 16.56 on 30 November 2015. The stock hit a 52-week low of Rs 8.25 on 20 January 2016. The stock had underperformed the market over the past 30 days till 6 September 2016, falling 2.30% compared with 2.82% rise in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 28.93% as against Sensex's 7.24% rise.
The small-cap company has equity capital of Rs 506.91 crore. Face value per share is Rs 10.
Subex said that the meeting of the board of directors of the company will be held on 12 September 2016, to consider and approve the raising of funds by way of issue of equity shares on preferential basis.
On a consolidated basis, Subex reported net loss of Rs 11.51 crore in Q4 March 2016 as against net profit of Rs 59.38 crore in Q3 December 2015. Net sales declined 10.69% to Rs 89.47 crore in Q4 March 2016 over Q3 December 2015.
Subex is a leading global provider of business and operations support systems (B/OSS) that empowers communications service providers (CSPs) to achieve competitive advantage through business and capex optimisation - thereby enabling them to improve their operational efficiency to deliver enhanced service experiences to subscribers.
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