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The Economic Times

Debaroti Adhikary

SpaceX namesake creates confusion on Dalal Street! Indian IT stock skyrockets 23% in 2 days

SpaceX United States Elon Musk Blue Cloud Softech Solutions Dalal Street Blue Cloud Parle Giorgia Meloni Malaysia

Weeks after the 'Meloni' mania sparked a skyrocketing rally in the wrong Parle stock, similar confusion over Elon Musk’s SpaceX boosted the shares of a Hyderabad-based smallcap IT firm, Blue Cloud Softech Solutions.

Blue Cloud Softech Solutions on Monday announced that its wholly owned US subsidiary has executed its first Statement of Work with Malaysia-registered SpaceX International. This relates to a Master Services Agreement signed by the parties earlier this year, which provides for a minimum contractual commitment of $150 million over 18 months.

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