Shares of IT company Blue Cloud Softech Solutions Ltd started the trading session in green after the company informed exchanges that it has entered into a Memorandum of Understanding (MoU) with GCIB for Africa Ltd to develop ‘digital factories’ and technology-based projects in Senegal and other African countries. The firm stated that this partnership will involve the two entities forming a joint venture (JV) or special purpose vehicle (SPV) to work in sectors such as IT, healthcare, infrastructure, education, and renewable energy. The company will work with the government and private organisations to strengthen digital services and infrastructure.
In an exchange filing, the company said it will handle technology, AI, cybersecurity, and project execution, while GCIB will assist with government approvals, local networks, and investment mobilisation. This move is seen as crucial in establishing Senegal as a tech hub in Africa, where strong digital infrastructure and the government’s “Plan Sรฉnรฉgal Emergent” policy encourage this expansion.
Share price today
The stock opened in the green at Rs 19.51, up from the previous close of Rs 19.26 on the BSE. It further advanced to touch a high of Rs 19.73, representing a gain of Rs 0.47 or 2.44 per cent from the previous close.ย
However, the stock witnessed profit booking at higher levels and fell to touch the low of Rs 19.12. Last seen, the stock was trading at Rs 19.14, with a loss of 0.62 per cent, and the market cap of the company stood at Rs 1,441.40 crore.ย
Recently, in its latest exchange filing, the company announced that the board of Blue Cloud Softech Solutions Limited (BCSSL) has approved the 100% acquisition of Global Impx Inc. (GIX). The deal will be entirely equity-based, meaning the company will not have to incur any immediate cash. This acquisition will accelerate BCSSL’s focus on becoming a technology-enabled infrastructure company at the intersection of AI, clean energy, and digital infrastructure.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)