Home/ Markets / Stock Markets/  IT stock hits 20% upper circuit for second day, rallies 52% in 5 days. What's driving the rally?

Shares of Subex Ltd extended rally for the second straight day as the IT stock jumped more than 20% to 39.9 apiece on the BSE in Thursday's early deals, hitting the upper circuit level for second consecutive session after announcing its partnership with Jio Platforms. Subex shares have surged more than 52% in the last five trading sessions.

On Tuesday, Subex informed in an exchange filing that Jio Platforms (JPL) has partnered with Subex HyperSense AI to augment its 5G product line. As per the collaboration, JPL will offer its Cloud Native 5G Core to telcos globally along with Subex’s HyperSense for enabling closed loop network automation, product performance and customer experience analytics. Jio Platforms Ltd. (JPL) is an Indian Technology Company and a subsidiary of Reliance Industries (RIL), headquartered in Mumbai.

"By combining HyperSense with Jio Platforms’ Cloud Native 5G Core, CSPs will be able to fast track their 5G journey by leveraging the power of AI. Further this partnership will allow operators to address multiple use cases around customer experience and revenue growth," said Suresh Chintada, CTO, Subex.

Subex’s HyperSense Platform is a unified data analytics and AI orchestration platform, using technologies such as machine learning and AI. HyperSense assists with data preparation, model building and deployment, insight generation. The platform also enables AI driven real time analytics across the 5G systems (Edge/Access/Transport/Core Networks) critical for superior customer experience, efficient operations and overall business profitability.

The board of directors of the software company will meet next week on Monday, August 8, 2022, through Video Conferencing, to consider and approve, inter alia, the Unaudited Financial Results (Standalone & Consolidated) as per the Indian Accounting Standards (Ind AS) for the quarter ended June 30, 2022 (Q1 FY23).

Subex is a Bengaluru-based Indian enterprise software company which provides Telecom Analytics Solutions and AI-led Digital Trust products to communication service providers. Subex shares have declined more than 26% in 2022 (YTD) so far, whereas the IT stock is down over 31% in a year's period.

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Updated: 04 Aug 2022, 10:10 AM IST
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