Avalon Technologies gains 4% on partnership with C-DAC

Shares of Avalon Technologies Limited traded over 4 percent higher to Rs 565 in morning trade on January 15 after it entered into a strategic partnership with C-DAC (Centre for Development of Advanced Computing) as part of the ‘RUDRA’ programme, aimed at designing and manufacturing supercomputers in India.

The partnership will add to the indigenous manufacturing capability of High-Performance Computing (HPC) systems that are a part of the ‘RUDRA’ programme, said the company in an announcement on January 12.

At 9:45 am, the stock was trading at Rs 561, up 3.6 percent from the previous close on the NSE. In the last year, the counter has gained 41 percent compared with Nifty’s 22 percent return.

Follow our market blog for all the live action

C-DAC, a division of the Ministry of Electronics and Information Technology (MeitY), developed India’s first indigenous server, Rudra I, as part of its initiative to establish supercomputing capacity in the country.

Avalon has been working as a strategic design and manufacturing partner to C-DAC since 2021, delivering PCB design and analysis, prototype PCB assemblies, cables, and sheet metal chassis. The company is a leading player in the Electronics Manufacturing Services (EMS) industry.

Speaking on the development, Kuhamed Bicha, chairman of the company said “We believe this partnership will be a significant boost to the advancement of indigenous research, design, and manufacturing of HPC
systems in India, and are proud to be in the forefront of this movement.”

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.