Bull of the Day: Stock that added 42% in 5 days

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Bull of the Day: Stock that added 42% in 5 days

Subex advanced 10.41% or Rs 7.55 to end at Rs 80.05 on the BSE. It touched an intraday high of Rs 82.70 and an intraday low of Rs 71.50. There were pending buy orders of 683 shares, with no sellers available. The total traded volumes were of 5,945,468 shares. Meanwhile the stock added 41.93% in last five days.

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Subex BSE | NSE 30/05/12 Are Mutual Funds betting on Subex? Other Stocks in this news CORE Education & Technologies | eClerx Services | Glodyne Technoserve | OnMobile Global | KPIT Cummins Infosystems | Firstsource Solutions | Vakrangee Software | Zylog Systems | Genesys International Corporation |

Bangalore based IT company Subex  shot up 10.41% or Rs 7.55 on Wenesday to end trade at Rs 80.05 on the bourses. It touched an intraday high of Rs 82.70 and an intraday low of Rs 71.50. There were pending buy orders of 683 shares, with no sellers available. The total traded volumes were of 5,945,468 shares. 

Interestingly, the stock added 41.93% in last five days.

The company had won a multi-million dollar deal from an Middle Eastern operator for revenue operations centre (ROC) for complete business optimisation this month.

On April 12, 2011, Subex appointed Anil Singhvi, chairman of Ican Investments Advisors, as an Independent Director on its Board.

Subex: A buy on dips?

In a chat with CNBC-TV18, senior technical analyst Shardul Kulkarni of Angel Broking said, "The volumes have been quite encouraging for Subex. I would say that probably a new trend is developing in the counter. So any dip, which you see in the next couple of trading sessions, should be used to ideally enter into the stock because normally you don't see more than 50 lakh shares being traded, which is the case today. So I think that if the stock does give you a dip it is a good buy."

He further added, "From a weekly perspective, I would say on the upside, the stock may test Rs 95 to three-digit mark in the next couple of trading sessions."

More on the stock

The company touched its 52-week high Rs 94.90 and 52-week low Rs 45.85 on 12 Nov, 2010 and 25 May, 2010, respectively. Currently, it is trading -15.65% below its 52-week high and 74.59% above its 52-week low. Its market capitalisation stands at Rs 521.81 crore.

The company's trailing 12-month (TTM) EPS was at Rs 12.29 per share. The stock's price-to-earnings (P/E) ratio was 6.51. The latest book value of the company is Rs 54.98 per share. At current value, the price-to-book value of the company was 1.46.

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