A multibagger stock hit the upper circuit in July 2 trading session on securing a major project worth $9.36 million.
Shares of Blue Cloud Softech Solutions hit the upper circuit limit for the 15th straight session to trade at Rs 32.78 per share on the BSE.
The sharp up move was witnessed after the technology company informed the exchanges on securing a contract valued at US$9.36 million through its client in the United States.
The project, spanning 18 months, involves the development and implementation of a customized coastal surveillance system to enhance security along the South American coastline, the company said in a regulatory filing.
"This project underscores Blue Cloud Softech Solutions’ expertise in delivering customized surveillance systems tailored to unique geographic and operational needs, integrating
advanced AI, IoT, and cloud technologies to strengthen coastal security and enable proactive threat management. Supported by a strong industry outlook, the global security
and surveillance industry valued at USD 17.23 billion in 2024 is projected to reach USD 36.85 billion by 2033, growing at a CAGR of 8.8% (Business Research Insights)," it added in the filing.
Janaki Yarlagadda, Chairperson of Blue Cloud Softech Solutions Limited, said "We take pride in deploying our cutting-edge coastal surveillance solution that integrates
advanced AI, IoT, and cloud technologies to enhance coastal safety and enable proactive threat management."
According to the data available on the BSE, the shares of the company are up 91.7 percent in the last 3 months.
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