On Thursday, November 6, Blue Cloud Softech, a small-cap IT company under ₹50, surged more than 15% in intraday trading on the BSE, extending gains to the third straight session and recording a cumulative gain of 30%.
On Thursday, November 6, a small-cap IT stock under ₹50 surged more than 15% during intraday trading on the BSE, extending gains to the third straight session and recording a cumulative gain of 30%, defying pessimistic market sentiment. The share price of Blue Cloud Softech Solutions began the day at ₹34.82, up 15.3% from its previous close of ₹32.95, and reached an intraday high of ₹38. The small-cap IT stock, however, lost gains; by 12:30 pm, it was up 6.2% at ₹35.Following the announcement of a $150 million technology ownership transfer (ToT) agreement with an Israel-based technology company to create edge-AI chip hardware design and manufacture semiconductors in India, the stock is seeing strong growth.
In a November 4 exchange filing, Blue Cloud Softech Solutions stated that the agreement includes a five-year strategic investment plan that covers product development, technology integration, and manufacturing setup in India. It also includes revenue sharing to the Israeli technology partner for intellectual property rights and hardware design transfer.
In a November 4 exchange filing, Blue Cloud Softech Solutions stated that the agreement includes a five-year strategic investment plan that covers product development, technology integration, and manufacturing setup in India. It also includes revenue sharing to the Israeli technology partner for intellectual property rights and hardware design transfer.
"This collaboration serves as a significant step toward strengthening India’s indigenous semiconductor manufacturing capability and aligns directly with the Government of India’s Aatma Nirbhar Bharat vision," stated Blue Cloud Softech Solutions.
"Blue Cloud Softech Solutions is presently in advanced discussions with leading Indian semiconductor manufacturing companies to fabricate these chips domestically, ensuring large-scale, end-to-end local production," the business stated.
"The initiative will not only fulfil the company’s existing $15 million collaboration with Byte Eclipse for Edge AI chip integration in the oil and gas sector but also address several similar industrial projects currently in the pipeline across defence, energy, and industrial AIoT domains," said Blue Cloud Softech Solutions.
"Blue Cloud Softech Solutions is presently in advanced discussions with leading Indian semiconductor manufacturing companies to fabricate these chips domestically, ensuring large-scale, end-to-end local production," the business stated.
"The initiative will not only fulfil the company’s existing $15 million collaboration with Byte Eclipse for Edge AI chip integration in the oil and gas sector but also address several similar industrial projects currently in the pipeline across defence, energy, and industrial AIoT domains," said Blue Cloud Softech Solutions.
Trends in the share price of Blue Cloud Softech Solutions
The share price of Blue Cloud Softech has decreased by over 29% so far this year and by more than 50% over the past year.
On a monthly basis, however, it has already increased by 20% in November following a 6% increase in October.
The share price of Blue Cloud Softech Solutions reached a 52-week high of ₹79.95 on November 11 of last year and a 52-week low of ₹14.95 on April 17 of this year.
On January 20 of this year, the stock was split 1:2.
The share price of Blue Cloud Softech has decreased by over 29% so far this year and by more than 50% over the past year.
On a monthly basis, however, it has already increased by 20% in November following a 6% increase in October.
The share price of Blue Cloud Softech Solutions reached a 52-week high of ₹79.95 on November 11 of last year and a 52-week low of ₹14.95 on April 17 of this year.
On January 20 of this year, the stock was split 1:2.
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