Shares of Blue Cloud Softech Solutions are in action today even as market benchmark indices Sensex and Nifty tumbled in early trade as crude oil prices crossed the USD 100 per barrel mark amid escalating geopolitical tensions in West Asia. The 30-share BSE Sensex tumbled 681.83 points or 0.89 per cent to 75,709.56, and the 50-share NSE Nifty declined 187.45 points or 0.79 per cent to 23,682.15 at the time of writing the report. Amid this weakness, shares of the company surged 5 per cent to hit an upper circuit of Rs 20.66. The stock began the trading session in the red at Rs 19.67 against the previous close of Rs 19.68 on the BSE. It fell further to touch the intraday low of Rs 19.42, representing a dip of 1.32 per cent. However, it bounced back and touched the intraday high of Rs 20.66. The market cap of the company stood at Rs 1,555.11 crore.
Signs agreement with SpaceX
The company’s United States subsidiary, Blue Cloud Softech Solutions Ltd – USA (BCSSL-USA), has executed a definitive five-year Master Services Agreement (MSA) for Artificial Intelligence (AI) services with SpaceX International Ltd, Malaysia.
However, the company has not disclosed detailed commercial terms, pricing, implementation schedules, customer-specific operational information or other confidential provisions of the agreement, citing confidentiality obligations. The Hyderabad-based firm said that it will make further disclosures as required under applicable law and the SEBI regulations.
“Under the Agreement, BCSSL-USA may provide Artificial Intelligence (AI) infrastructure, cloud-native AI platforms, enterprise AI solutions, AI consulting, AI integration, AI operations and related AI-enabled digital transformation services, subject to mutually agreed Statements of Work and the terms of the Master Services Agreement,” the company said in an exchange filing.
Share price history
According to BSE Analytics, the stock has delivered a multibagger return of 409.88 per cent in five years. However, it has corrected 28.79 per cent in three years and 83.07 per cent in two years.
On a year-to-date (YTD) basis, it has dipped 2.55 per cent, compared to the benchmark index’s 11.01 per cent fall.
Technically, the stock is trading higher than the 5-day, 50-day and 100-day moving averages but lower than the 20-day and 200-day moving averages.
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