Daijiworld Media Network – Mumbai
Mumbai, Aug 20: Shares of Blue Cloud Softech Solutions Ltd remained in focus on Thursday after the company announced that it had entered into a Memorandum of Agreement (MoA) with the Global Council for Investment and Business for Africa (GCIB) and Cote d’Ivoire-based Afro Mobile SARL.
The agreement, signed on August 19, aims to establish a strategic partnership for identifying, financing, developing, implementing and commercialising telecommunications and digital infrastructure projects across Africa.
The proposed partnership will cover a wide range of projects, including national fibre-optic backbone networks, 4G and 5G mobile networks, submarine cable landing stations, internet exchange points, telecom towers, satellite connectivity through VSAT and Low Earth Orbit (LEO) systems, as well as digital public infrastructure such as digital identity, e-governance platforms and digital payment systems.
Following the announcement, the company's shares opened at Rs 22.45 on the BSE, compared with the previous close of Rs 22.39. The stock later touched an intraday high of Rs 23.15, gaining around 3.39 per cent. It was last trading at Rs 22.66, up 1.21 per cent, giving the company a market capitalisation of around Rs 2,091.70 crore.
The company said the partnership is intended to create a framework for large-scale digital and telecommunications projects across African markets, with the participating organisations working together on project structuring, financing, development and operations.
In terms of its market performance, the stock has remained above its five-day, 20-day, 50-day, 100-day and 200-day moving averages. It had touched a 52-week high of Rs 38 on November 6, 2025, while its 52-week low stood at Rs 16.51 on January 1, 2026.
According to BSE data, the stock has delivered a return of 294.96 per cent over five years. However, it has declined 28.20 per cent over three years and 79.70 per cent over two years. On a year-to-date basis, the stock has gained 7.13 per cent.
Meanwhile, benchmark indices Sensex and Nifty also rebounded, tracking gains in global markets as easing US Treasury yields improved investor sentiment.
The latest agreement marks an important overseas expansion initiative for Blue Cloud Softech Solutions as it seeks to participate in the development of telecommunications and digital infrastructure across African markets.