ASX-listed Etherstack jumps most in more than a year on Telstra deal

Etherstack

12/09/2023 03:38

** ASX-listed shares of Etherstack PLC  ESK.AX  jump as much
as 18.4% to A$0.225, posting their biggest intraday pct gain
since April 29, 2022
    ** The wireless tech co says it has signed an agreement with
Telstra  TLS.AX  for Telstra to trial and evaluate co’s Mission
Critical 3GPP standards compliant Interworking Function (MCX
IWF)
    ** Says, under agreement, co will deploy the same MCX IWF
technology to Telstra as it is currently supplying to the AT&T
FirstNet project
    ** Adds, trial will initially last about 9 months and will
contribute about A$320,000 in revenue to co's current FY 
    ** About 498,570 shares exchange hands vs the 30-day average
of 50,616 shares 
    ** ESK stock currently up 18.4%, trimming YTD losses to
52.6%

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))