Small-cap stock under ₹50: IT company Blue Cloud Softech Solutions share price surged as much as 13.64% in Wednesday's trading session despite volatility in the Indian stock market.
Blue Cloud Softech Solutions shares opened at ₹20.35 per share on NSE, as compared to previous close of ₹20.01 on Tuesday and touched an intraday high of ₹22.87 on 7 October.
Meanwhile, Indian stock markets recovered from their session lows on Wednesday, October 7, after the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) unanimously raised the repo rate by 25 basis points to 5.50%, from 5.25% earlier.
The Sensex rebounded nearly 450 points, or 0.6%, from its intraday low to hit a high of 72,969.57. Similarly, the Nifty 50 recovered 123 points, or 0.5%, from its day’s low to reach 22,701.60.
In an exchange filing, Blue Cloud Softech Solutions said that its wholly owned US subsidiary, Global Impx Inc. (GIX), has commenced delivery of an AI infrastructure design, deployment and support services engagement for IBM Cloud Inc. The project is being executed under a signed Statement of Work (SOW) at a fixed fee of $15.5 million, equivalent to approximately ₹147 crore.