Anant Raj shares rise over 12% after signing MoU with Google LLC; check details

In a filing to the stock exchanges on July 20, the Delhi-based real estate developer said that its wholly-owned subsidiary Anant Raj Cloud Pvt Ltd has entered into a Memorandum Of Understanding with Google LLC to provide data centre infrastructure, data managed services, and cloud platform to various public and private enterprises.

The company, with its expertise, will develop innovative technological solutions for potential customers. The aim of collaborating with Google LLC is to assist customers in developing purpose-built Al-infused solutions for data infrastructure, productivity and security, the company informed the bourses.

Both partners also intend to develop innovative technological solutions for potential customers.

Through the MoU, the two companies will work together to improve the enterprises' management of their data centre services and help them work efficiently.

Anant Raj shares rallied as much as 12.49% to hit an intraday high of ₹540.75 apiece on the NSE, extending the gains for the second straight day. However, the stock trimmed early gains to close at ₹517 apiece on the NSE.

The stock is 2.79% away from its previous 52-week ₹552 apiece hit on July 8.

Anant Raj Limited develops residential properties catering to various segments, including affordable housing and luxury apartments. The company develops commercial spaces such as office buildings, IT parks, and retail complexes. The Delhi-based realty firm is also engaged in developing retail properties such as shopping malls and entertainment centres.