Australia's DroneShield jumps on US Army contract for up to $500 million in orders
30/09/2026 02:13
BUZZ-Australia's DroneShield jumps on US Army contract for up to $500 million in orders ** Shares of DroneShield DRO.AX gain as much as 11.5% to A$1.74, their biggest intraday pct gain since August 4
** Shares hit highest level since August 31
** Counter-drone technology co announces its US unit is awarded a Domestic Shield US Department of Defense contract, allowing it to potentially win orders with a ceiling value of $500 million
** Contract requires DroneShield to compete for and receive delivery orders to help deploy counter-unmanned aircraft systems (C-UAS) as a counter-force to drone warfare
** Stock down 43.2% this year, including the day's move
(Reporting by Rudrannsh Mehra in Bengaluru)
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