Anant Raj Soars 4% On After Its Subsidiary Signs MoU With Orange Business Services
Under the MoU, Orange Business Services will design, build and provide operation (hardware and software) services for ARC's cloud platform
Stock of Anant Raj surged more than 4 per cent in the Tuesday trading session after the real estate developer through its wholly-owned subsidiary Anant Raj Cloud, entered into a memorandum of understanding (MoU) with Orange Business Services India Technology.
Anantraj stock traded at Rs 442 with 4.2 per cent gain in the afternoon session on the National Stock Exchange (NSE).
“We are pleased to announce that Anant Raj Cloud (ARC), a wholly-owned subsidiary o f the company, has entered into a MoU with Orange Business Services India Technology, a business services arm of Orange S.A., a global integrator of communications, products and services,” informed Anant Raj in an exchange filing.
Under the MoU, Orange Business Services will design, build and provide operation (hardware and software) services for ARC's cloud platform.
Orange Business Services will also establish servers for its captive requirement at ARC Data Center. Additionally, it will support, promote and sell ARC colocation data centre and cloud platform services to its existing and future customers on terms and conditions mutually agreed.
On Par With Index
In terms of stock performance, Anant Raj gained 48 per cent in 2024 so far compared to 45 per cent year-to-date (YTD) gain in Nifty Realty index.
