Anant Raj Subsidiary To Collaborate With Google For AI Solutions, Stock Surges
The stock jumped as much as 12.49% during the day to Rs 540.75 apiece on the NSE.
A wholly owned subsidiary of Anant Raj Ltd. entered into a memorandum of understanding with Google LLC to provide infrastructure for data centres and build artificial-intelligence-driven solutions.
Anant Raj Cloud Pvt. collaborate with the US-based technology giant for providing data centre infrastructure, DC-managed services, cloud platform to various public and private enterprises. It will also develop innovative technological solutions for potential customers, the company said in an exchange filing.
Google and Anant Raj Cloud will also build purpose-driven AI-infused solutions for infrastructure, productivity, and security, it said.
On the NSE, Anant Raj's stock jumped as much as 12.49% during the day to Rs 540.75 apiece, the highest since July 9. It was trading 8.44% higher at Rs 521.10 per share, compared to a 0.03% advance in the benchmark Nifty at 11:21 a.m.
The share price has gained 174.50% in the last 12 months and 76.4% on a year-to-date basis. The total traded volume so far in the day stood at 3.13 times its 30-day average. The relative strength index was at 66.25.
Two analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 19%
