Shares of small-cap IT company Blue Cloud Softech Solutions soared 5 per cent to hit the upper circuit on Friday despite a sharp decline in the Indian stock market. Amid selling pressure in the market, the IT stock opened flat at Rs 19.67 per share on BSE. However, as buying interest intensified for it, the stock surged 5 per cent to hit an upper circuit of Rs 20.66. In the early hours, the stock traded in negative territory, hitting a day low at Rs 19.42, representing a dip of 1.32 per cent.

Meanwhile, the stock 52 week high and low values stood at Rs 38 and Rs 16.52, respectively. Meanwhile, the market cap of the company stood at over Rs 1,500 crore.

Stock Market Today

Key benchmark indices--Sensex and Nifty--- tumbled for the fifth consecutive day on Friday as crude oil prices crossed the USD 100 per barrel mark in the international market amid escalating geopolitical tensions in West Asia.

Last seen, the 30-share BSE index--Sensex--was trading at 76,041.25, down 0.46 per cent or 350.14 points. Nifty50 was quoted at 23,763.95, down 0.44 per cent or 105.65 points.

Share Price History

According to BSE Analytics, the small-cap IT stock has given a multi-bagger return of 410 per cent in the last five years. However, the stock fell nearly 28 per cent in three years and 83 per cent in two years.

This year till date (YTD), the stock dipped over 2 per cent.

Deal With SpaceX

Earlier in an exchange filing, the company said that it has secured an AI business opportunity with SpaceX International.

"Further to the Company's earlier disclosure regarding exploration of AI business opportunities, the Company now announces that its United States subsidiary has executed a definitive five-year Master Services Agreement with SpaceX International Ltd, MY," the company said in an exchange filing.

"The Agreement enables BCSSL-USA to 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 applicable contractual terms," the exchange filing added.

Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.