Upper Circuit Alert: IT stock gains ahead of EGM - Check details

Upper Circuit Alert: IT stock gains ahead of EGM - Check details The acquisition of AIS Anywhere for Rs 752.32 crore through a share swap deal (5 Blue Cloud shares for every 1 AIS Anywhere share) will make it a wholly-owned subsidiary. Mumbai: Shares of Blue Cloud Softech Solutions were locked in a 2 per cent upper circuit on Tuesday, June 24, 2025. This is the sixth straight session when the counter has hit the upper circuit. It has been gaining for the last 10 days and has jumped over 21 per cent in this period. Technically, the stock trades higher than the 5-day, 20-day, 50-day and 100-day moving averages but lower than the 200-day moving averages. The company, with a market cap of Rs 1,296 crore, has a 52-week high of Rs 130.50 and a 52-week low of Rs 14.95. The stock started today's trading session at Rs 29.71 against the previous close of Rs 29.13. Also, the stock is under Enhanced Surveillance Measure (ESM) Stage 2. The surge in the share price comes ahead of the company's Extraordinary General Meeting (EGM) that is scheduled for June 27, 2025. Acquisition Of New Jersey-Based AIS Anywhere Meanwhile, the company has announced the acquisition of the New Jersey-based AIS Anywhere. Announcing the updated date, the company said that it has fixed June 10, 2025, as the new date for this purpose. During the meeting, the company will also determine the share swap ratio for the acquisition. Blue Cloud's board approved a substantial Rs 1,300 crore investment limit for future growth. The acquisition of AIS Anywhere for Rs 752.32 crore through a share swap deal (5 Blue Cloud shares for every 1 AIS Anywhere share) will make it a wholly-owned subsidiary. This strategic move aims to bolster Blue Cloud's presence in the US market and leverage AIS Anywhere's expertise in AI, data analytics, cybersecurity, IoT, and enterprise solutions. "The acquisition is of a strategic nature, and the company feels that it will result in growth opportunities in line with horizontal business expansion and revenue growth. Through this company can achieve more US market," the company said.