Small-cap stock under ₹50: Blue Cloud Softech Solutions share price surged as much as 2% on BSE in Tuesday’s trading session after the company said it has become industry partner for the IndiaAI Centre of Excellence.
Blue Cloud Softech Solutions shares opened at ₹19.30 apiece today, as compared to previous close of ₹19.18 on Friday last week. The small-cap stock hit an intraday high of ₹20.37 on 15 September, inching close to 52-week high.
What’s behind the rally?
In a latest press release, Blue Cloud Softech Solutions announced that it has received formal confirmation from Software Technology Parks of India (STPI), an autonomous society under the Ministry of Electronics and Information Technology (MeitY), Government of India, of the Company’s association as Industry Partner for the IndiaAI Centre of Excellence (AI-CoE) to be established in Bhubaneswar, Odisha.
The confirmation was addressed to Tejesh Kumar Kodali, Group Chairman, and Vinod Babu Bollikonda, Managing Director and Group CEO of Blue Cloud.
STPI informed Blue Cloud that the proposal to establish the AI Centre of Excellence (AI-CoE) in Odisha, recommended by the Government of Odisha, has received in-principle approval from the Ministry of Electronics and Information Technology (MeitY). STPI has formally confirmed Blue Cloud as the Industry Partner and asked the company to begin the process of signing a definitive Memorandum of Understanding (MoU). The proposed agreement will outline Blue Cloud’s financial contribution of ₹4 crore towards the development of the Centre, along with its responsibility for providing industry leadership, mentorship and strategic guidance to emerging AI startups.
The AI-CoE is planned as a global hub for applied AI innovation, startup incubation, skill development and the implementation of responsible and scalable AI solutions across key sectors such as healthcare, governance, disaster management, education and industry. Based on MeitY’s guidance, the Centre will also address areas aligned with Odisha’s geographical and developmental strengths, including oceanography, coastal fisheries, tidal and ocean energy, and women and child development. STPI has allocated around 10,000 square feet of built-up space, along with supporting infrastructure, specifically for the Centre’s establishment and operations.
The initiative is being developed under the IndiaAI Mission, the Government of India’s national programme administered by MeitY to develop sovereign AI computing infrastructure and strengthen the country’s AI innovation ecosystem. STPI has previously established several technology-focused Centres of Excellence in collaboration with state governments and industry partners across India.
Blue Cloud’s role as Industry Partner will leverage its existing technology platforms across the Centre’s focus areas. These include BluHealth, a non-invasive, camera-based vital screening platform for healthcare; Blura SAGA and SOCEYE for public safety and governance applications; and Access Genie, its sovereign AI and 5G digital infrastructure stack. The company plans to make these platforms, its engineering expertise and its enterprise and government customer network available to startups incubated at the Centre. This is expected to help solutions developed in Bhubaneswar scale across India as well as in Blue Cloud’s international markets.
“Odisha is exactly the kind of place where applied AI should be built. There are real problems to solve in healthcare, disaster management, coastal fisheries and the ocean economy, and a State Government and STPI that want solutions deployed, not merely researched. Blue Cloud builds sovereign AI platforms for public safety, healthcare and digital infrastructure, and our commitment to this Centre goes well beyond capital. We will bring our platforms, our engineers and our mentorship to every startup that comes through Bhubaneswar, and we are honoured that MeitY, STPI and the Government of Odisha have placed this confidence in us,” said Tejesh Kumar Kodali, Group Chairman, Blue Cloud Softech Solutions Limited.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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