Stock in focus: The company has signed a memorandum of understanding (MoU) with Konkan Railway Corporation Limited (KRCL).
A day after signing a memorandum of understanding (MoU) with Konkan Railway Corporation Limited (KRCL), BSE smallcap IT company Blue Cloud Softech Solutions Limited has informed exchanges that it has entered into a MoU with the Andhra Pradesh Economic Development Board (APEDB), Government of Andhra Pradesh. As part of this agreement, the company will invest approximately Rs 400 crore in the healthcare sector in the state. Under this agreement, the IT company will launch its flagship project, ‘BluBio,’ in major cities like Amaravati or Visakhapatnam. This high-tech project will be built on an area of approximately 30 acres and will generate over 1,200 direct jobs by 2027.
Project to generate 20,000 new jobs
Additionally, the project is expected to generate approximately 20,000 indirect jobs, including those in supply chain, logistics, service providers, and other supporting industries, both large and small.
The company stated in its filing that the project is designed to advance new technologies in key sectors such as healthcare, defense, finance, and cybersecurity. This MoU will be effective for 12 months and is a non-binding agreement.
MoU with Konkan Railway Corporation
The company has signed a memorandum of understanding (MoU) with Konkan Railway Corporation Limited (KRCL). As part of the MoU, the software company will facilitate the demonstration (PoC) and implementation of next-generation connectivity and entertainment solutions across three key railway stations – Madgaon, Ratnagiri, and Udupi.
Share price today
The counter started the trading session in the green at Rs 24.52 against the previous close of Rs 24.19 on the BSE. It gained further to touch the high of Rs 25.70 but fell to intraday low of Rs 23.80 amid profit booking. Last seen, the counter was trading at Rs 24.16 with a fall of 0.12 per cent. The market cap of the company is Rs 1,054.06 crore.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
