Blue Cloud Softech Solutions share price extended its rally and hit a 20% upper circuit for the second consecutive session on Tuesday, led by strong buying interest from investors, after the company announced plans to explore business opportunities in the artificial intelligence (AI) field. The small-cap stock jumped 20% to ₹25.96 apiece on the BSE.
shares have surged nearly 44% in two sessions, supported by robust trading volumes.
Around 3 crore equity shares of Blue Cloud Softech Solutions changed hands on BSE as compared to its one week average trading volumes of 57 lakh equity shares and one month average volumes of 20 lakh shares.
The rally in came after the company said it was evaluating preliminary, non-binding business opportunities in the field of AI technology with SpaceX International Ltd.
At this stage, the parties have established only a framework for the exchange of information to facilitate discussions and an evaluation of potential areas of collaboration.
“This reflects the company’s continued focus on exploring strategic opportunities in the digital infrastructure and technology ecosystem,” Blue Cloud Softech Solutions said in a regulatory filing on June 22.
The company further clarified that the preliminary discussions are solely for the purpose of evaluating potential business opportunities and do not create any binding obligation on either party to enter into any transaction, joint venture, investment, partnership or definitive agreement.
Blue Cloud Softech Solutions Share Price Performance
Blue Cloud Softech Solutions share price has rallied 36% in one month and gained 38% in three months. The smallcap stock has risen 3% in six months, while it has added 19% on a year-to-date (YTD) basis. Blue Cloud Softech stock price has fallen 13% in one year and has dropped over 70% in two years.
Blue Cloud Softech Solutions share price has delivered multibagger returns of 465% over the past five years.
At 12:35 PM, Blue Cloud Softech Solutions share price was trading 16.54% higher at ₹25.22 apiece on the .