Now Reading: Blue Cloud Softech jumps 11% on Rs 1,300 crore SpaceX order
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Blue Cloud Softech jumps 11% on Rs 1,300 crore SpaceX order
Blue Cloud Softech shares surged 11% on Monday after the small-cap IT firm announced a $150 million (about Rs 1,300 crore) contract with SpaceX International. The stock touched an intraday high of…
The Story in Brief
Blue Cloud Softech shares surged 11% on Monday after the small-cap IT firm announced a $150 million (about Rs 1,300 crore) contract with SpaceX International. The stock touched an intraday high of Rs 22.80 on the BSE, recovering from a year-long decline.
The contract, signed under a Master Services Agreement from July 9, covers AI infrastructure ($70 million), cybersecurity ($25 million), telecom ($25 million) and data centre solutions ($30 million). The work will be executed over 18 months in five phases, starting with assessment and design. Blue Cloud Softech says its US subsidiary will build and run a sovereign-grade AI computing platform for SpaceX International.
The Indian Opinion
A Rs 1,300 crore contract from SpaceX sounds spectacular, but this is a small-cap stock that has lost 15% in the past year despite a 344% five-year return. The hype around the order forgets that delivery is spread over six quarters and dependent on performance milestones. Investors should watch whether the company actually reports revenue from this deal in the next 12 months, not just celebrate a filing.
Sources (2): bazaar.businesstoday.in, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
