Avalon Technologies surges on inking agreement with C-DAC for HPC servers `RUDRA`
Avalon Technologies is currently trading at Rs. 558.60, up by 16.45 points or 3.03% from its previous closing of Rs. 542.15 on the BSE.
The scrip opened at Rs. 560.15 and has touched a high and low of Rs. 565.45 and Rs. 553.70 respectively. So far 19063 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 731.95 on 14-Jul-2023 and a 52 week low of Rs. 347.30 on 09-May-2023.
Last one week high and low of the scrip stood at Rs. 565.45 and Rs. 531.50 respectively. The current market cap of the company is Rs. 3558.45 crore.
The promoters holding in the company stood at 50.97%, while Institutions and Non-Institutions held 22.77% and 26.26% respectively.
Avalon Technologies has entered into an agreement with C-DAC (Centre for Development of Advanced Computing), a premier R&D organization of the Ministry of Electronics and Information Technology (MeitY) for indigenously manufactured HPC servers ‘RUDRA’. This will enhance the indigenous manufacturing capability of High-Performance Computing (HPC) systems as part of the 'RUDRA' programme, which aims at designing and manufacturing of supercomputers in India. The programme is poised to demonstrate India's competency to design, develop, build and deliver as per nation's multidisciplinary computing needs, and has critical strategic and national importance.
Avalon has been working as a strategic design and manufacturing partner to C-DAC since 2021, delivering PCB design & analysis, Prototype PCB assemblies, Cables, and Sheet metal chassis. This experience in server builds will now ensure Avalon's smooth transitioning into the Production of HPC servers as well. With its expertise in PCB design and analysis & DFX for manufacturing, Avalon is geared to support the next generation of indigenous server development and manufacturing at C-DAC.
Avalon Technologies is an end-to-end electronic manufacturing service solutions provider and counts Kyosan India, Zonar Systems Inc, Collins Aerospace, e-Infochips, The US Malabar Company, Meggitt (Securaplane Technologies Inc) and Systech Corporation as some of its key clients.
