Shares of Subex Ltd . surged as much as 6% on Wednesday, December 10, after the company announced that it has secured a five-year contract from one of Europe’s "largest integrated energy and telecommunications providers," marking a significant new customer win for the Bengaluru-based telecom AI solutions firm. The stock gave up gains soon after.

In an exchange filing, Subex said the order, valued at around $1 million, involves deploying its fraud-management software suite along with providing business consulting, followed by training and managed services in the first 3 years of the project and support for 5 years for the software.

The project will be delivered and supported through Subex’s EU offices, the company said.

The customer, whose name was not disclosed, operates across power

See Full Page