India's Avalon Technologies hits record high since market debut

Avalon Technologies

29/05/2023 08:29

** Shares of Avalon Technologies Ltd  AVAL.NS  rise as much
as 6.5% to record high of 449 rupees since its trading debut on
April 18
    ** Electronic manufacturing services firm posts over 2x jump
in consolidated profit of 227.08 million rupees ($2.75 million)
for the March-quarter
    ** Revenue from operations jumped 29.6% to 2.72 billion
rupees from a year ago
    ** This is also AVAL's biggest intraday pct gain since its
debut
    ** About 806,719 shares change hands by 12:55 p.m. IST, 1.9x
the 30-day avg of 433,507 shares - Refinitiv data
    ** Stock last up 1.2%, gains of 14.3% in May so far


($1 = 82.6261 Indian rupees)

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))