08 lakh shares, or 6% of the company's equity. 38 crore, according to BSE bulk-deal data.

04, respectively. 61 crore.

75. 55 during the session.

14 crore at the close. 39% stake in Avalon Technologies, according to stock exchange data.

02%. Nomura retains Buy call, raises target priceEarlier this month, Japanese brokerage Nomura raised its target price on Avalon Technologies to Rs 2,767 from Rs 2,211, while retaining its Buy rating.

Nomura's revised target followed Avalon's entry into a joint venture with Zollner Elektronik AG, an unlisted European electronics manufacturing services company, for PCBA, box-build and system integration manufacturing in India. The joint venture intends to serve customers across geographies and sectors including healthcare and life sciences, test and measurement, rail and other industrial verticals.

Zollner will initially hold a 51% stake in the joint venture. For Avalon, Nomura said the partnership adds global customers, supports expansion into Europe and helps the company enter two new verticals — healthcare and life sciences, and test and measurement — which are characterised by high-complexity manufacturing and long lifecycle products.

Nomura retained its target P/E multiple of 45 times and rolled forward its valuation period to December 2027F from September 2027F earlier, resulting in the higher target price of Rs 2,767. About Avalon TechnologiesAvalon Technologies is an electronic manufacturing services (EMS) company with more than 25 years of manufacturing experience.

It provides end-to-end box-build solutions, spanning printed circuit board design and assembly to the complete box-build of electronic systems. The company has manufacturing facilities in India and the US and operates a global delivery model.

Its customers span sectors including clean energy, transportation, industrials, communication and medical devices. Disclosure: This article has been written by Kumar Gaurav, who is not a SEBI-registered Research Analyst or an Investment Adviser.

Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution.