India's Subex jumps most in over 1-1/2 years on Jio deal

Subex

03/08/2022 08:18

** Shares of Indian enterprise software firm Subex
 SUBX.NS  rise as much as 20% to 33.30 rupees, their best
intraday pct gain since Dec. 1, 2020 
     ** SUBX on Tuesday announced its partnership with Jio
Platforms to augment its 5G product line  urn:newsml:reuters.com:*:nFWN2ZE4EC
     ** Reliance Industries'  RELI.NS  Jio this week emerged as
the biggest spender in India's $19 billion 5G spectrum auction,
with the top telco player winning airwaves worth $11 billion
 urn:newsml:reuters.com:*:nL4N2ZD2MV
    ** Indian govt aims to begin the rollout of 5G - which it
says can provide data speeds about 10 times faster than 4G - by
October this year
    ** About 9.2 million shares change hands vs 30-day moving
avg of 3.3 million shares
    ** SUBX shares down 38.50% YTD

 (Reporting by Navamya Ganesh Acharya)
 ((Navamya.GaneshAcharya@thomsonreuters.com; +91 8805175330 ;))