This IT stock continues upward momentum amid volatility as company shares update on acquisition

Mumbai:

Shares of smallcap IT company Blue Cloud Softech Solutions Ltd gained over 8 per cent on Tuesday, even as the market remained volatile. Equity benchmark indices declined as crude oil prices refused to fall amid US President Donald Trump's fresh deadline to Iran. The 30-share BSE Sensex tumbled 824.44 points to 73,282.41 in early trade. The 50-share NSE Nifty dropped 248.95 points to 22,719.30. Amid this, the stock opened in the green at Rs 19.74, up 1.70 per cent from the previous close of Rs 19.41. It further advanced to touch a high of Rs 21.01, representing an 8.24 per cent jump from the last closing price. At the time of writing the reports, the stock was trading at Rs 20.04, up 3.25 per cent or Rs 0.63. The market cap of the company stood at Rs 1,509.18 crore.

Rs 373 crore acquisition

The company has informed exchanges that its board has approved the acquisition of 100 per cent of Global Impx Inc. (GIX). The deal will be entirely through equity, meaning the company will not have to spend 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 deal will mark the company's entry into the AI-based data centre and energy-supported infrastructure sectors. The acquisition is worth Rs 372.81 crore.

GIX, a US-based energy and digital infrastructure platform, owns approximately 196.7 acres of land in Chhatrapur, Odisha, where it plans to build a large data centre (hyperscale) ranging from 5 MW to 100 MW in phases. This location is near Gopalpur Port and NH-16 and has received approval from the IDCO.

GIX's platform includes technologies such as solar, battery storage, microgrids, Energy-as-a-Service (EaaS), AI-based energy optimisation, and Virtual Power Plant. This will help BCSSL deliver end-to-end solutions by connecting energy and data infrastructure.