Subex gains 9% on multi-million dollar contract win
The deal with Australia-based Optus will provide Network Asset Management solution to manage the later's network investments.
July 05, 2018 / 01:41 PM IST
Shares of Subex rose more than 9 percent intraday Thursday as company bagged multi-million dollar contract from Optus.
Optus is one of the largest telecom operators in Australia and a fully owned subsidiary of Singtel.
The company's ROC Network Asset Management will enable Optus to control all of its existing and new network investments through a well-defined network efficiency framework.
Vinod Kumar, CEO and MD of Subex, "We are excited to partner with Optus for enabling Subex's ROC Network Asset Management solution. "
"This win allow us to increase our footprint in Australian market and for our ROC Network Asset Management product, which is a testament to our Subex 3.0 startegy," he added.
At 13:15 hrs Subex was quoting at Rs 5.70, up Rs 0.27, or 4.97 percent.