Australia's GenusPlus jumps on $935 mln contract win

Genusplus

04/12/2023 02:27

Dec 4 (Reuters) -    ** Shares of GenusPlus Group
 GNP.AX  rise as much as 6.4% to A$1.250, their highest since
July 5, 2022
    ** Stock posts its biggest intraday percentage gain since
June 23
    ** The power and communications infrastructure provider says
co's joint venture with Australia's ACCIONA has been awarded a
contract for Transgrid's HumeLink Transmission project, an
energy infrastructure project in New South Wales
    ** Says contract will comprise construction of 237km of
transmission lines and a 500kV substation
    ** Adds total contract value is about A$1.4 bln ($934.64
mln)
    ** About 111,143 shares change hands, compared with the
30-day average volume of 42,009
    ** GenusPlus stock up 19.3% YTD, as of last close

    ($1 = 1.4979 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))