Anant Raj shares gain the most in a year on reports of potential Data Centre incentives

Shares of Anant Raj Ltd. are among the top gainers on the BSE Smallcap Index on Monday, September 15, after reports of potential incentives for companies involved in data centres.

This is the biggest single-day gain for the stock since October last year. Gains have also come on the back of heavy volumes.

Reports in the Business Standard on Monday indicate that the government has proposed a tax exemption of up to 20 years for data centre developers, provided they meet capacity addition, power usage effectiveness and employment generation targets.

States would be urged to provide land near industrial corridors, IT hubs or manufacturing for data centre infra, according to the report, which adds that the permanent establishment status for foreign firms operating or leasing at least 100 MW Data centre capacity from Indian companies is also proposed.

CNBC-TV18 has not independently verified the veracity of these reports.

For the June quarter, Anant Raj operationalised a second data centre facility at Panchkula, with a capacity of 7 MW IT load. The company has a target of operationalising 307 MW Data Centre capacity by 2031.

"The data centre business offers substantial revenue potential, underpinned by long-term client engagements, that ensure consistent and recurring income streams.

Shares of Anant Raj are trading 10.2% higher on Monday at ₹588.25. The stock is down significantly from its 52-week high of ₹947.3, and has gained 8.3% in the last one month.

As many as 1.6 crore shares of the company have already changed hands on Monday, compared to a 20-day average of 5.3 lakh shares.