Small-cap IT stock Blue Cloud Softech Solutions surged for the third straight session on Thursday, October 30, amid a spate of positive announcements.
During this period, the small-cap stock below ₹50 has rallied a whopping 40%.
Blue Cloud Softech Solutions’ share price hit the day’s peak of ₹33 on the BSE today, a gain of 15% over its last closing price of ₹28.63 apiece.
Former SoftBank investor joins company
The gains today followed the appointment of Sukhvinder Gill, a former influential investor at SoftBank Vision Fund, as strategic advisor to the company.
Gill’s joining comes at a pivotal time when Blue Cloud Softech Solutions is accelerating its growth and innovation agenda in the global technology sector, said the firm.
Gill is widely recognised for his deep expertise in strategic investment, business growth advisory, and driving market leadership. During his tenure at SoftBank Vision Fund – one of the world’s largest and most influential technology investment platforms – Gill played a critical role in sourcing, evaluating, and structuring investments into some of the most groundbreaking technology ventures globally, the company said in a press release today.
Gill also held significant roles at globally respected institutions such as Deutsche Bank, JPMorgan Chase, and Goldman Sachs Asset Management.
Janaki Yarlagadda, Chairperson of Blue Cloud Softech Solutions, commented, “Having someone of Sukhvinder’s calibre who has operated at the highest levels of global venture capital and capital markets is a huge asset for Blue Cloud. His insights from SoftBank Vision Fund’s approach to scaling technology-driven companies will be instrumental in shaping our next phase of growth and innovation.”
Foray into AI chips
Blue Cloud Softech also announced a strategic partnership with Byte Eclipse, a US-based IoT company, to design and develop Edge AI Chips tailored for the Oil & Gas (O&G) industry.
The primary objective of this collaboration is to create advanced Edge AI chips that enable real-time, on-site data processing and decision-making for mission-critical applications like Predictive Maintenance (PdM), said the company.
Phase 1 of the project, valued at $15 million, is expected to be completed within 18 months, with future phases planned for scaling the solution globally.
Agreement details with Orange Business Services
Additionally, the company on October 28 announced that it has entered into a master services agreement with Orange Business Services India to expand into the telecommunications sector.
Orange Telecom has been selected as an integration partner by Blue Cloud Softech Solutions Limited to support the implementation of 5G Fixed Wireless Access (FWA) technology. As part of this collaboration, Orange is actively involved in launching a proof of concept (POC) for 5G FWA at the BSNL exchange in Mindi, Visakhapatnam, said the company.
BCSSL, acting as the principal partner for BSNL in this initiative, is leading the deployment of advanced 5G FWA solutions to enhance high-speed connectivity and network performance in the region.