In Monday’s trading session, the shares of this mid-cap company surged by 12.2 percent on BSE to hit an intraday high at Rs. 540, after the company announced entering into a Memorandum of Understanding (MoU) with Google LLC.
At 12:05 p.m., the shares of Anant Raj Limited were trading in the green at Rs. 518.35, up by 7.7 percent, as against its previous closing price of Rs. 481.2, with a market capitalisation of Rs. 17,739 crore.
What’s the News:
According to the latest regulatory filings with the stock exchanges, Anant Raj Cloud, a wholly-owned subsidiary of Anant Raj Limited, entered into a Memorandum of Understanding (MoU) with Google LLC, an American global technology company.
Anant Raj Cloud will provide Data Center Infrastructure, DC Managed Services and a Cloud Platform to various Public & Private enterprises. The subsidiary will also develop innovative technological solutions for potential customers.
Further, the parties will collaborate closely to assist customers in developing purpose-built Al-infused solutions for Data infrastructure, Productivity, and Security.
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Related News:
Earlier, Anant Raj Cloud Pvt. Ltd. entered into a strategic alliance partnership with TCIL (Telecommunications Consultants India Limited) for Data Centers (cloud and colocation services).
TCIL is a wholly owned Government of India undertaking and the largest telecom engineering public sector enterprise in India. Additionally, the subsidiary is also a business partner of RailTel, for providing Data Center Services.
RailTel is a Government of India undertaking and one of the largest neutral telecom infrastructure providers in the country.
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of around 58 percent from Rs. 280.2 crore in Q4 FY22-23 to Rs. 442.6 crore in Q4 FY23-24.
Similarly, its net profit increased during the same period from Rs. 46.3 crore to Rs. 87.7 crore, indicating a growth of 89.4 percent YoY.
Stock Performance:
The stock has delivered multibagger returns of nearly 171.8 percent in one year, and around 65.2 percent of positive returns in the last six months. So far in 2024, the shares of Anant Raj have given about 72.8 percent of positive returns.
About the Company:
Established in 1969, Anant Raj Limited is engaged in the real estate development, construction and infrastructure development sectors.
The company has a diverse portfolio of projects, including integrated residential townships, group housing, IT parks, hotels, commercial complexes, malls, service apartments, warehousing and data centres.
Written by Shivani Singh
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