Blue Cloud Softech Solutions share price jumped 5% on Tuesday, snapping its three day losing streak, amid robust buying interest. The small-cap stock hit 5% upper circuit of ₹19.95 apiece on the BSE.
Blue Cloud Softech Solutions shares declined nearly 27% in the past three days. However, buying momentum emerged on Tuesday and the small-cap stock hit 5% upper circuit, supported by strong volumes.
The rally in Blue Cloud Softech Solutions share price today comes despite a weak trend in the broader Indian stock market today. The benchmark indices, Sensex and Nifty 50, were trading marginally lower amid volatility.
In the previous session, Blue Cloud Softech Solutions announced that it been empaneled by Bharat Sanchar Nigam Limited (BSNL) as a Captive Non-Public Network Provider under Category III, for the provision of Captive Non-Public Network (CNPN) services to enterprise customers across India.
The empanelment follows the execution of a formal agreement between BSNL and Blue Cloud Softech Solutions, enabling the company to collaborate with BSNL in planning, designing, deploying, commissioning and maintaining captive private network solutions for enterprise customers. The agreement is valid for a period of 60 months, subject to the terms and conditions contained therein.
“The empanelment confers on the company eligibility to participate in enterprise CNPN projects in association with BSNL. It does not, by itself, guarantee any specific business or revenue, and the financial impact, if any, will depend on the projects actually secured,” Blue Cloud Softech Solutions said in a regulatory filing on June 29.
Under the empanelment framework, Blue Cloud Softech Solutions will be eligible to partner with BSNL across its areas of operation for enterprise CNPN projects, strengthening the company’s position in the evolving private network ecosystem and creating opportunities to deliver connectivity solutions to enterprises across multiple industry sectors, it added.
Blue Cloud Softech Solutions Share Price Performance
Blue Cloud Softech Solutions share price has risen 10% in three months, but is down 9% in six months. The smallcap stock has fallen 38% in one year, and has declined 81% in two years. Blue Cloud Softech Solutions shares have delivered multibagger returns of 346% over the past five years.
At 1:15 PM, Blue Cloud Softech Solutions share price was trading 4.58% higher at ₹19.88 apiece on the BSE.
