Australia's Bisalloy Steel eyes best day in 15 months on government contract

Bisalloy Steel

11/12/2023 02:27

** Shares of Australia's Bisalloy Steel  BIS.AX  rise as
much as 10.2% to A$2.38, set for best day since Sept. 15, 2022,
if current gains hold 
    ** Stock hits highest level since Nov. 24 
    ** Steel plate maker enters contract worth up to A$15 mln
($9.84 mln) with the Australian Submarine Agency for
qualification of Australian steel for use in the country's armed
nuclear-powered submarines 
    ** Says produced steel will meet both U.S. and UK standards
    ** More than 120,100 shares change hands, compared with the
30-day average volume of 91,147 
    ** Stock had risen 2.2% this year, as of last close
($1 = 1.5249 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))