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 donDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
