Shares of Anant Raj Ltd. surged nearly 11% to touch a day’s high of Rs 540.75 on 22 July after the company’s subsidiary announced the signing of an MoU with Google LLC.

Anant Raj Cloud Pvt. Ltd., a subsidiary of Anant Raj, signed this MoU with Google LLC. The partnership aims to provide data centre infrastructure and DC-managed services. Both companies will offer cloud platforms to public and private enterprises.

The MoU aims to develop innovative technological solutions for potential customers. Both parties will work together to create AI-infused solutions for data infrastructure, productivity, and security.

No financial details or timeline for the MoU have been provided by the company.

The company’s promoters hold a 60% stake in the company as of the end of the June quarter. India’s domestic institutions hold approximately 4.5% of the company’s stake.

The share touched a 52-week high of Rs 551.95 on 9 July 2024 and a 52-week low of Rs 180.85 on 11 August 2023. The stock is currently trading 8.61% below its 52-week high and 178.91% above its 52-week low.

The company’s market capitalisation as of 22 July is Rs 17,834 crore and has a P/E ratio of 64.31, respectfully.

At 11:00 AM, the shares of Anant Raj were trading 8.65% higher at Rs 522.80 on BSE.

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