ESDS hit upper circuit as Maithan Alloys picks up stake

Shares of ESDS Software Solution extended their post-listing gains on Friday, locking in at the 10% upper circuit. The stock closed at ₹1,740.40 on the NSE, marking another strong session for the newly listed IT services firm. The rally received a boost after Maithan Alloys disclosed the acquisition of a 0.65% stake in ESDS for ₹113 crore. The ferroalloy manufacturer purchased 7,60,548 equity shares through open-market transactions, according to an exchange filing. Maithan Alloys, which also holds a 0.17% stake in the National Stock Exchange, said the investment aims to generate capital gains over the short or long term. ESDS Software Solution is an AI-enabled end-to-end IT infrastructure provider with more than two decades of experience. The company offers data centre, cloud, colocation, managed services and AI infrastructure solutions to government entities, public sector units, BFSI institutions and enterprises. Its platforms support workloads across banking, public services, manufacturing, healthcare, retail, energy and logistics.