Shares of BSE-listed IT company Blue Cloud Softech Solutions are in action even in today’s volatile session as the company has shared updates regarding a contract with SpaceX International. The stock opened at Rs 20.11, a gain of Rs 0.37 or 1.87 per cent from the previous close of Rs 19.74 on the BSE. But it picked momentum amid firm buying and a spurt in trading volume by more than 11.12 times to hit the intraday high of Rs 23, a gain of 16.51 per cent from the previous close. Last seen, the stock held firmly in the green at Rs 22.45, and the market cap of the company stood at Rs 2,072.32 crore. The counter has gained after two days of consecutive falls and outperformed the sector by 12.37 per cent.
It traded in a wide range of Rs 2.89 and has been trading today with an intraday volatility of 6.68 per cent. Technically, the stock is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
Deal with SpaceX International
The action in the stock comes as the company has informed exchanges that its wholly owned US subsidiary, Blue Cloud Softech Solutions Ltd – USA, has signed a major USD 150 million or Rs 1,260 crore Statement of Work (SOW) with SpaceX International Ltd, MY. The deal provides a minimum contractual commitment over a period of 18 months, subject to the terms and conditions of the executed agreements.
The deal entails responsibility for building, securing, and operating a sovereign-grade AI compute and data centre platform. According to the company, the deal is a significant step in its expansion into large-scale AI infrastructure, cybersecurity, telecommunications, and data centre solutions for global clients.
Scope of work will span across these four sectors
- AI Infrastructure: USD 70 million (Approx Rs 588 crore)
- Data Centre Solutions: USD 30 million (Approx RS 252 crore)
- Cybersecurity: USD 25 million (Approx Rs 210 crore)
- Telecommunications: USD 25 million (Approx Rs 210 crore)
According to the information shared, the execution will span five phases across six quarterly billings.
Share price history
According to BSE Analytics, the stock has delivered a return of 348.40 per cent in five years. However, it has corrected 29.39 per cent in three years and 14.82 per cent in one year. On a year-to-date basis, it has gained 6.04 per cent.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
