Shares of small-cap IT company 'Blue Cloud Softech Solutions' gained over 6 per cent in intraday trade on Monday. The stock's rally comes after the company announced that it has begun providing services under a $150 million master services agreement with SpaceX International Ltd, MY, effective August 24 under Statement of Work No. 1.
Last seen, the IT stock was trading at Rs 22.90, up 3.57 per cent or Rs 0.79 as compared to last day's closing of Rs 22.11 ON BSE. Earlier, the Scrip started the session with a decent gap-up at Rs 22.99 as compared to the last closing. It escalated the momentum further to hit the day's high at Rs 23.54, rising 6.4 per cent from last closing.
Meanwhile, its 52-week high and low values stood at Rs 38 and Rs 16.51, respectively.
"Statement of Work No. 1 has an aggregate contract value of USD 150 million and covers AI Infrastructure (USD 70 million), Cybersecurity (USD 25 million), Telecommunications (USD 25 million) and Data Centre Solutions (USD 30 million). Delivery and billing are expected to commence from the current quarter in accordance with the agreed execution schedule," according to an exchange filing.
The deal will be completed through Blue Cloud’s US operations, utilising the group’s delivery capabilities in artificial intelligence platforms, cyber defence, telecom engineering, and data centre build-outs and operations.
Share Price History
As per data in BSE, the Blue Cloud Tech stock soared over 280 per cent in the last five years. However, in it corrected over 35 per cent in the last three years. The stock is down nearly 80 per cent in the last two years. However, this year till date, the scrip rose over 8 per cent. In three months, the IT company's shares jumped 24 per cent, and in a month, the stock rose over 11 per cent.
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Period | Performance (%) |
|---|---|
Last 5 years | +280% |
Last 3 years | -35% |
Last 2 years | -80% |
Year to date | +8% |
Last 3 months | +24% |
Last 1 month | +11% |
Bagged Statement of Work With SpaceX International: Key Points
- Blue Cloud previously said that it wholly-owned U.S. subsidiary, Blue Cloud SoftTech Solutions Ltd.-USA, entered into a Statement of Work with SpaceX International Ltd.
- Under the deal, the company found an expansion into large-scale AI infrastructure. It will work on cybersecurity, telecommunications, and data-centre solutions for global clients.
Disclaimer: This story is for informational purposes only. It should not be considered investment advice.