- The trend backdrop is active with a 14-week active streak.
- Price is above the Trend Line, keeping the weekly tape constructive.
- Activity pressure is positive on the latest completed week.
- Activity pressure is constructive, supporting the smart-money activity read.
SUBEXLTD
NSI
Week ended 02 Oct 2026
Weekly Investor Report
Subex Limited · Technology · Software - Application
Latest close
19.34 INR
-9.7%
latest week
Weekly setup
Constructive, but selective
The weekly trend is active. Price is 51.6% above the Trend Line and sits at 78.6% of its 52-week range. The latest completed week returned -9.7%, after a 11.9% four-week move. The latest factor snapshot indicates quality is middle-of-the-pack; growth ranks weakly; valuation is neither clearly cheap nor expensive. The latest news-sentiment score is 50/100.
Setup score
64
out of 100
Latest Close
19.34 INR
2 Oct 2026
1W Return
-9.7%
latest completed week
4W Return
11.9%
short-term follow-through
12W Return
46.2%
quarterly tape
Trend Breadth
26.9%
14 of 52 weeks active
Volume Ratio
1.4x
vs 13-week average
- Price is below Fair Value, so the market is still discounting the latest tape.
- Next-week expectancy is negative at 44.79% based on similar historical setup states.
- The latest week was a sharp negative move.
- Trend Line remains the key weekly regime level.
- Activity pressure is the gauge to monitor for confirmation or fade.
- A volume ratio above 1.5x would show stronger participation in the next move.
Price follow-through
-9.7%
Latest completed week; four-week move 11.9%.
Indicator stack
60/81
Trend and activity pressure are weighted against the latest 12-week confirmation window.
Trend backdrop
Active
The trend backdrop defines the current weekly regime.
Patient Capital
Quiet
Activity-pressure buy-signal status for institutional accumulation timing.
Next-Week Expectancy
Negative 44.79%
Historical one-week expectancy contributes to the evidence score when direction is confirmed.
News sentiment
50/100
1 relevant articles in the latest sentiment read.
01 · Price action
Study the full chart
Where price is—and whether the trend supports it
The weekly trend is active. Price is 51.6% above the Trend Line and sits at 78.6% of its 52-week range. The latest completed week returned -9.7%, after a 11.9% four-week move.
52-week price path
Price vs Trend Line and Fair Value
Price
Trend Line
Fair Value
02 · Volume and demand
Is real participation confirming the move?
Latest weekly volume is 1.4x the 13-week average. Participation is around or above normal and provides reasonable confirmation.
26-week volume confirmation
Bar height shows volume; colour shows the weekly price direction
10 Apr
17 Apr
24 Apr
1 May
8 May
15 May
22 May
29 May
5 Jun
12 Jun
19 Jun
26 Jun
3 Jul
10 Jul
17 Jul
24 Jul
31 Jul
7 Aug
14 Aug
21 Aug
28 Aug
4 Sep
11 Sep
18 Sep
25 Sep
2 Oct
Up week
Down week
Demand beneath price
Activity pressure and institutional-style signals
These indicators assess whether participation is improving beneath the headline price move. They are supporting evidence, not proof of institutional buying.
Activity pressure path
Latest 0.9612-week average 0.78
12-week confirmation
Trend active12/12Active trend-backdrop weeks in the latest 12-week window.
Positive pressure12/12Weeks with constructive activity pressure in the latest 12-week window.
Positive leadership12/12Weeks with positive relative leadership in the latest 12-week window.
Activity pressure0.96Current proprietary activity-pressure read.
Buy signals0Accumulation signal count in the latest 12 weeks.
Reversal markers0No reversal markers
No recent accumulation markers. No reversal markers.
03 · Momentum and leadership
Is performance persistent—and is the stock leading?
Performance is 11.9% over four weeks, 46.2% over 12 weeks, and 56.6% over one year. The current trend has remained active for 14 consecutive weeks.
Performance by holding period
Active trend streak14 weeks
Active weeks in one year14
Trend breadth26.9%
Activity pressure vs relative leadership
Activity pressureRelative leadership
Pressure1.71Latest activity-pressure read.
Pressure change3.2%Four-week change in activity pressure.
Leadership73.89Latest relative-leadership reading.
RS change34.5%Four-week change in relative leadership.
04 · Fundamentals and valuation
Open full factor analysis
What investors are paying for—and the quality behind it
The latest factor snapshot indicates quality is middle-of-the-pack; growth ranks weakly; valuation is neither clearly cheap nor expensive.
Factor week 02 Oct 2026
Financial statements through 30 Jun 2026
Field coverage 85%
Model confidence 84%
Relative factor standing
Higher display scores are better. Each score is converted from the underlying universe rank, where rank 1 is best.
Overall factor strength53/100Blend of value, momentum, and quality. Underlying universe rank 48; rank 1 is best.
Value23/100Relative valuation strength. Underlying universe rank 78; rank 1 is best.
Quality68/100Profitability and accounting quality. Underlying universe rank 33; rank 1 is best.
Momentum92/100Medium-term price momentum. Underlying universe rank 9; rank 1 is best.
Growth20/100Revenue and earnings growth. Underlying universe rank 81; rank 1 is best.
Quality and valuation are separate questions
A strong company can still carry a demanding valuation. This report shows profitability, growth, balance-sheet strength, and the price paid for those characteristics separately.
Value-quality framework38/100Value and quality alignment from the Sharemaestro SVQF framework.
Valuation
How much investors are paying for earnings, sales, and cash flow.
- P/E
- 35.8x Price divided by trailing earnings.
- Price / sales
- 3.7x Market value relative to trailing revenue.
- EV / EBITDA
- 19.3x Enterprise value relative to operating cash earnings.
- Free-cash-flow yield
- - Free cash flow as a share of enterprise value.
Business quality
Margins and the return generated on invested capital.
- Gross margin
- 44.0% Gross profit retained from each unit of revenue.
- Operating margin
- 10.8% Operating profit retained from revenue.
- Free-cash-flow margin
- - Free cash flow generated from revenue.
- Return on invested capital
- 8.3% Operating return generated on invested capital.
Growth and financial strength
Recent business growth and accounting strength.
- Revenue growth
- -2.3% Latest one-year revenue growth.
- EPS growth
- - Latest one-year earnings-per-share growth.
- Free-cash-flow growth
- 852.6% Latest one-year free-cash-flow growth.
- Piotroski F-score
- 6/9 Nine-point accounting-strength checklist.
Shareholder return and balance sheet
Cash returned to owners and financial leverage.
- Dividend yield
- - Cash dividends relative to market value.
- Buyback yield
- 0.0% Net share repurchases relative to market value.
- Shareholder yield
- 0.0% Dividend yield plus net buyback yield.
- Net debt / EBITDA
- -1.0x Balance-sheet debt relative to operating cash earnings.
05 · Ownership, options, and sentiment
What other market participants are doing
Options, insider transactions, market sentiment, and activity-pressure signals can confirm or challenge the price story. None should be used alone.
Insider activity-
No recent insider transactions are stored for this company.
News sentiment50/100
Weighted news tone is neutral across 1 relevant articles.
1 positive · 0 neutral · 0 negativePatient CapitalQuiet
Activity-pressure buy-signal evidence highlights potential institutional accumulation windows.
No recent buy signal
06 · Catalysts and risk
What can move the shares—and how volatile the path has been
Event timing, options-implied movement, drawdown, and weekly return distribution frame the risk around the current setup.
Next earnings-No event is currently stored.
Options expected move-Nearest-chain priced movement where available.
52-week drawdown-15.2%Distance below the 52-week high.
13-week volatility12.0%Standard deviation of weekly returns.
Weekly gains and losses
Latest 26 completed weeksEach bar is one week. Gains rise above the zero line; losses fall below it. Taller bars mean a larger weekly move.
10 Apr
8 May
5 Jun
3 Jul
31 Jul
28 Aug
2 Oct
Weeks higher15 of 2611 weeks finished lower.
Best week+34.4%Week of 21 Aug.
Worst week-9.7%Week of 2 Oct.
Latest week-9.7%Week of 2 Oct.
Shape of recent returns
Strong gains11
Modest gains4
Flat weeks0
Modest losses5
Sharp losses6
Recent vol12.0%13-week weekly-return volatility.
Base vol9.0%52-week weekly-return volatility.
Up/down split25/27Count of positive and negative weeks in the 52-week window.
Average skew8.0% / -5.0%Average positive week versus average negative week.
07 · Sector and peer context
Is this stock leading—or simply moving with its group?
Sector and industry breadth distinguish company-specific strength from a broad group move.
SectorIN Technology
4-week rank- / 100
Group average-3.6%
Trend breadth49.0%
Trend49.0%active weekly trend signals
MD49.0%positive activity pressure
RS52.0%positive relative leadership
Four-week leaders
IndustryIN Software - Application
4-week rank3 / 42
Group average-4.4%
Trend breadth35.7%
Trend35.7%active weekly trend signals
MD42.9%positive activity pressure
RS35.7%positive relative leadership
Four-week leaders
08 · Evidence and weekly data
The underlying research record
Every top-level statement above should be traceable to a stored market, fundamental, event, or positioning observation.
Weekly tape61/100
Trend, activity pressure, participation, and risk combine to a 61/100 tape read.
Indicator analysis91/100Latest 12-week confirmation: trend 12/12, activity pressure 12/12, relative leadership 12/12.
Activity pressure 0.96; No reversal markers Next-Week ExpectancyNegative 44.79%Next-week expectancy is negative with a 44.79% historical one-week setup read.
Adds short-term historical context without overriding trend, activity, or relative leadership. Factors57/100O'Shaughnessy factor stack blends value, quality, momentum, and confidence.
Buyback Yield rank 78; Small Cap Core rank 81 SVQF38/100Value and quality alignment from the Sharemaestro SVQF framework.
Composite rank 1007.5 of 1628 Patient CapitalQuietActivity-pressure buy-signal evidence highlights potential institutional accumulation windows.
No recent buy signal Sentiment50/100Weighted news tone is neutral across 1 relevant articles.
Subex Limited (SUBEXLTD.NS) Climbs 6.28% to ₹21.00, Pressing Against Resistance at ₹22.05 - Bull Flag Insiders50/100No recent insider transaction evidence is stored.
Earnings50/100No stored earnings event is currently attached to this ticker.
| Week | Close | Return | Trend Line | Fair Value | Pressure | Leadership | Volume | Trend |
|---|---|---|---|---|---|---|---|---|
| 2 Oct 2026 | 19.34 INR | -9.7% | 12.76 INR | 20.37 INR | 1.71 | 73.89 | 39.9M | On |
| 25 Sep 2026 | 21.41 INR | 6.5% | 12.40 INR | 20.44 INR | 1.89 | 89.21 | 116.1M | On |
| 18 Sep 2026 | 20.11 INR | -3.3% | 11.99 INR | 20.52 INR | 1.82 | 79.25 | 59.9M | On |
| 11 Sep 2026 | 20.80 INR | 20.4% | 11.65 INR | 20.60 INR | 1.85 | 87.54 | 107.5M | On |
| 4 Sep 2026 | 17.28 INR | -4.7% | 11.29 INR | 20.68 INR | 1.66 | 54.91 | 14.3M | On |
| 28 Aug 2026 | 18.13 INR | -2.8% | 11.04 INR | 20.80 INR | 1.59 | 62.01 | 2.6M | On |
| 21 Aug 2026 | 18.66 INR | 34.4% | 10.74 INR | 20.91 INR | 1.45 | 67.88 | 24.0M | On |
| 14 Aug 2026 | 13.88 INR | 1.0% | 10.43 INR | 21.01 INR | 1.25 | 25.55 | 489.6K | On |
| 7 Aug 2026 | 13.74 INR | 11.4% | 10.33 INR | 21.13 INR | 1.31 | 23.31 | 1.4M | On |
| 31 Jul 2026 | 12.33 INR | -2.0% | 10.22 INR | 21.26 INR | 1.30 | 11.75 | 715.0K | On |
| 24 Jul 2026 | 12.58 INR | -5.2% | 10.20 INR | 21.40 INR | 1.26 | 16.89 | 733.9K | On |
| 17 Jul 2026 | 13.27 INR | 0.3% | 10.16 INR | 21.52 INR | 1.19 | 20.33 | 649.6K | On |
| 10 Jul 2026 | 13.23 INR | 14.1% | 10.12 INR | 21.65 INR | 1.05 | 20.51 | 2.4M | On |
| 3 Jul 2026 | 11.60 INR | -1.0% | 10.07 INR | 21.78 INR | 0.88 | 5.28 | 779.5K | On |
How to use this report
This is a completed-week research summary. It explains the available evidence and its conflicts; it does not predict a guaranteed outcome or replace your own risk assessment. Fundamental figures may refer to an earlier financial reporting period, which is shown above.