Amidst the mild rally in the stock market on Wednesday, IT company Blue Cloud Softech Solutions Limited has released significant information.
Blue Cloud Softech operates across AI, cybersecurity, cloud computing, digital infrastructure, enterprise solutions, and 5G technology.
Shortly after the stock market opened today, the company released its latest exchange filing, stating that it has signed a Memorandum of Understanding (MoU) with Konkan Railway Corporation Limited (KRCL). The MoU was signed in Navi Mumbai.
Under this partnership, the company will conduct a demonstration (PoC) and implementation of next-generation connectivity and entertainment services at three major railway stations – Madgaon, Ratnagiri, and Udupi.
Through this partnership, Blue Cloud Softech Solutions Limited will provide KRCL with its innovative digital services, including a 5G network and internet backhaul. As part of a phased PoC, the company will deploy high-quality entertainment solutions using 5G FWA (Fixed Wireless Access) technology at stations and in trains. KRCL will assess the quality, operational efficiency, passenger response, and benefits of these services.
The company stated in its filing that upon successful completion of the PoC, the two companies will jointly plan to expand these services across the entire Konkan Railway network and launch them commercially. This partnership is a major step towards strengthening passenger digital connectivity and advancing modern transportation technology on the Konkan Railway corridor.
The stock began the session in the green at Rs 25.35, up from its previous close of Rs 25.17 on the BSE. I continued to jump further amid a spurt in trading volume, touching a high of Rs 28.24. This is a gain of 12.19 per cent from the previous close. However, the stock pared early gains and touched the intraday low of Rs 23.90. Last seen, the stock was trading at Rs 24.37 and the market cap of the company stood at Rs 1,064.53 crore.