Shares of Blue Cloud Softech Solutions rallied more than 17% on Monday, June 22, after the company informed stock exchanges that it is evaluating early-stage business opportunities in the artificial intelligence space with SpaceX International, linked to Elon Musk’s aerospace and technology ventures.
In its filing to the BSE, the company stated that it is exploring non-binding discussions related to AI technologies with SpaceX.
The announcement triggered strong investor interest in the small-cap stock, which is priced below ₹50 and saw significant intraday volatility.
Blue Cloud Softech shares opened at ₹18.55 and surged nearly 19% during the session to touch an intraday high of ₹21.67 on the BSE.
The stock was last seen trading 16.78% higher at ₹21.09, significantly outperforming broader markets, where the Sensex rose about 0.6% and the Nifty 50 gained 0.5%.
Over the past week, the stock has gained around 16%, while monthly gains stand at about 14%. The company now has a market capitalisation of approximately ₹1,592 crore, according to exchange data.
The company clarified that both parties have set up a framework to exchange information and explore potential areas of cooperation.
The discussions align with Blue Cloud Softech’s broader strategy of expanding into digital infrastructure, artificial intelligence, cloud computing and other emerging technologies.
However, the company emphasised that the discussions are still at a preliminary stage and remain non-binding.
There is no obligation on either side to proceed with any transaction, partnership, joint venture or investment agreement.
Any future collaboration would depend on due diligence, mutual consent, regulatory approvals and execution of definitive agreements.
The stock movement also came amid increased investor enthusiasm following SpaceX’s recent Nasdaq listing.
Reports indicated that SpaceX shares surged 19% in their debut, pushing the company’s valuation above $2 trillion and making it one of the most valuable firms globally.
The listing also reportedly elevated Elon Musk to the status of the world’s first trillionaire, further boosting sentiment in AI and space-related stocks.
