Shares of the Bengaluru-based technology company – Subex Ltd – rose as much as 14 per cent to hit a fresh 52-week high of Rs 59.80 after Monday’s 16 per cent up move ahead of the launch of its new artificial intelligence automation platform on Thursday, April 22. “We would like to inform you that Subex will be launching the new AI automation platform on Thursday, April 22, 2021 and specific details of the same will be unveiled on the launch day,” Subex said in a stock exchange filing on Monday. (Track Subex share price here)
Subex shares were witnessing higher than usual trading volumes as 36.26 lakh shares changed hands on the BSE compared with an average 29 lakh shares traded daily in the past two weeks.
Over 2.87 crore shares were traded on the National Stock Exchange till 11:15 am. In the previous trading session over 4 crore shares changed hands, data from the National Stock Exchange showed.
Subex shares have surged a whopping 1,568 per cent on the BSE from 52-week low of Rs 3.59.
Subex is a pioneer in the space of digital trust, providing solutions for 75 per cent of the world’s top 50 telcos. Founded in 1992, the year when the video-telephone was launched, we have been part of the evolution of mobile technology.
As of 11:19 am, Subex shares traded 12.86 per cent higher at Rs 59.25, outperforming the Sensex which was up 0.38 per cent.