Blue Cloud Softech Soars on 5-Year SpaceX AI Services Deal

The agreement covers diverse AI infrastructure and solutions.

The shares of small-cap tech company 'Blue Cloud Softech Solution' soared to hit 5 per cent upper circuit for the second consecutive session after the company announced that its United States subsidiary executed a definitive five-year Master Services Agreement (MSA) with SpaceX International for Artificial Intelligence (AI) services.

The BSE-listed company started the session with a decent gap-up at Rs 22 as compared to the last day's closing of Rs 21.66. However, despite bearish sentiment in the domestic stock market, the stock escalated 5 per cent to hit the upper circuit limit at Rs 22.74. Last seen, the IT stock was trading at Rs 22.71, up 4.85 per cent or Rs 1.05.

Earlier in the last session, the stock opened flat. However, the scrip witnessed strong buying following the announcement and jumped 5 per cent to hit the upper circuit of Rs 21.68. Later, the stock ended the session at Rs 21.66.

Stock Market Today: Amid a sharp rise in crude prices--Brent crude climbed to $84 per barrel--due to escalating tension in the Middle East, the key domestic equity benchmark indices--Sensex, Nifty--traded significantly lower in early trade on Tuesday. Last seen, Sensex was trading at 77,272.04, up 0.44 per cent or 344.36 points. Nifty50 was quoted at 24,111.85, down 0.41 per cent or 99.15 points.

"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.