India's Avalon Technologies rises after agreement with C-DAC

Avalon Technologies

15/01/2024 04:16

** Shares of Avalon Technologies Ltd  AVAL.NS  rise as much
as 4.3% to 565 rupees
    ** The electronic manufacturing services co on Friday said
it entered into an agreement with Centre for Development of
Advanced Computing (C-DAC) for indigenously manufactured
high-performance computing servers 
    ** Stock trading above its 100-, 50-day simple moving avg
since Dec 21, 2023
    ** Avalon on track to rise for third straight month 
    ** Four of 7 brokerages rate the stock "buy" and the rest
"strong buy"; their median PT is 580 rupees, slightly above
session's high - LSEG data
    ** Avalon stock gained ~38% in 2023 since its listing in
April

    

 (Reporting by Meenakshi Maidas in Bengaluru)
 ((meenakshi.maidas@thomsonreuters.com;))