Avalon Technologies Ltd saw its shares jump over 4% on January 15 after the Electronic Manufacturing Services (EMS) Company announced entering into a strategic partnership with C-DAC (Centre for Development of Advanced Computing).

Shares of Avalon Tech hit an intraday high of Rs 565.00, up 4.3% from its last closing price on the National Stock Exchange (NSE). The company’s stock closed 2.64% higher at Rs 555.90. 

In an exchange filing on Friday, the company said that the partnership would enhance the indigenous manufacturing capability of high-performance computing (HPC) systems as part of the ‘RUDRA’ programme. The program aims at designing and manufacturing supercomputers in India.

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

Avalon has been delivering PCB design and analysis, prototype PCB assemblies, cables, and sheet metal chassis to C-DAC since 2021, working as a strategic design and manufacturing partner.