The action in the stock comes as the company has informed exchanges that it has entered into a Technology Ownership Transfer (ToT) agreement with an Israeli technology company for the manufacture of EdgeAI chips.
Shares of Blue Cloud Softech Solutions Ltd, a software company, surged around 18 per cent despite benchmark indices trading lower in early trade. The action in the stock comes as the company has informed exchanges that it has entered into a Technology Ownership Transfer (ToT) agreement with an Israeli technology company for manufacturing EdgeAI chips. The total value of this agreement is said to be around USD 150 million.
“The agreement value of USD 150 million includes a five-year strategic investment plan by Blue Cloud Softech Solutions Limited (BCSSL) covering technology integration, product development, and manufacturing setup in India, along with revenue sharing to the Israel technology partner for hardware design transfer and intellectual property rights,” the company said in an exchange filing.
This is a significant step for BCSSL in developing indigenous semiconductor and AI hardware. The investment plan includes R&D, manufacturing facilities, and collaborations with Indian semiconductor companies. This project will contribute to India’s Atmanirbhar Bharat mission and boost technology exports.
Share Price today
The stock started the trading session flat at Rs 29.78 on the BSE. Amid a spurt in volume by more than 4.31 times, the stock surged to touch the high of Rs 35, representing a gain of 17.52 per cent from the previous close.
The 52-week high of the stock is Rs 79.95, and the 52-week low is Rs 14.95.
Stock Market Today
Equity benchmark indices Sensex and Nifty were trading lower in early trade on Tuesday amid persistent foreign fund outflows and a weak trend in Asian markets.
The 30-share BSE Sensex dropped 55 points to 83,923.48 in early trade. The 50-share NSE Nifty dipped 40.95 points to 25,722.40.
Among the major laggards were Sensex firms such as Power Grid, Eternal, HCL Tech, Maruti, Tata Motors, and Infosys.
However, Bharti Airtel, Titan, Reliance Industries and Mahindra & Mahindra were the gainers.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
