Anant Raj share price was in strong demand on Monday after the company announced a major partnership with the Andhra Pradesh government. The stock climbed 4.35% to an intraday high of ₹342.80 on the NSE.

The stock has rebounded 71% from its 52-week low of ₹376.15 (April 7), though it still trades 32% below its 52-week high of ₹947.90 (January 8).

At 1 PM, the stock was trading at ₹634.35, up 2.96% from the previous close of ₹616.10, while the Nifty50 gained 0.32% to 25,993.

Details of the ₹4,500-Crore MoU

The rally came after Anant Raj Cloud Private Ltd (ARCPL), a wholly owned subsidiary, signed a ₹4,500-crore MoU with the Andhra Pradesh Economic Development Board (APEDB) on November 14.

What the MoU Covers

• Development of new data centre facilities
• Establishment of an IT park in Andhra Pradesh
• Phased investment of ₹4,500 crore for data centre and cloud-services infrastructure

In its regulatory filing, Anant Raj said it is pleased to partner with the state government to expand its data centre and cloud services footprint.

Job Creation and State Support

The project is expected to create:

• 8,500 direct jobs
• 7,500 indirect jobs

APEDB will support the project by helping with coordination and facilitation, including communication with the Union government when needed. However, APEDB’s role will be limited to promoting and enabling investment, as stated in the filing.

Read more: Infosys Buyback: How Much Tax Will You Pay on The Buyback Amount?

Conclusion

Anant Raj’s stock rallied as investors welcomed its large-scale ₹4,500-crore expansion plan in Andhra Pradesh. 

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