Shares of small-cap IT company Blue Cloud Softech Solutions escalated 4.5 per cent during the trading session on Wednesday, October 14, despite key domestic equity indices--Sensex and Nifty-- tumbling significantly amid profit booking after a rally in past sessions. The shares of the Hyderabad-based IT company started the session in green at Rs 20, up nearly 2 per cent from the last closing of Rs 19.61 on the BSE.
The scrip escalated the momentum further amid buying sentiment, touching an intraday high at Rs 20.50-- Rs 0.89 or 4.5 per cent. At the time of writing, the stock was trading in green. It was quoted at Rs 20.08, up 2.50 per cent or Rs 0.49.
Meanwhile, the market cap of the company stood at over Rs 1,800 crore.
What's Fueling the Rally In The IT Stock?
The stock was trading in green after falling for four consecutive sessions following the IT company's announced progress update on its high-profile USD 150 million, or around Rs 1,260 crore, programme with SpaceX International Ltd, Labuan.
"Within weeks of beginning delivery on 24 August 2026, the Company has completed the architecture phase of the programme and delivered approximately Rs 25 crore of work in the quarter ended 30 September 2026. Work for the current quarter has commenced exactly as planned," the company said in an exchange filing.
Also Read: Blue Cloud Softech Shares Up 4.5%: Why Smallcap IT Stock Defied Bearish Market Trends Today
Stock Market Today
Indian stock market ended the highly volatile session in negative territory on Wednesday. BSE Sensex declined over 400 points from the day's high to close at 72,781.89. The index was trading higher in early trade and touched an intraday high at 73,195.26. With respect to last day's closing of 73,033.78, the 30-share index closed 251.89 points or0.34 per cent lower.
Meanwhile, Nifty50 ended the session at 22,622.70, down 99.25 points or 0.44 per cent from the last closing of 22,721.95.
Disclaimer: This story is for informational purposes only. It should not be considered investment advice.