Australia's GR Engineering jumps most in about 2-1/2 months on new contracts

GR Engineering Services

14/04/2023 03:06

** Shares of GR Engineering Services Ltd  GNG.AX  jump as
much as 3% to A$1.890, posting their biggest intraday pct gain
since Feb 2
    ** Engineering contractor says it entered into two contracts
with OZ Minerals Musgrave Operations, a unit of OZ Minerals
 OZL.AX 
    ** Says contracts for design and construction works of West
Musgrave Mineral Processing Plant in Western Australia 
    ** Adds estimated revenue from delivery of contracts will be
A$312 mln ($211.75 mln) over two-year period 
    ** Stock had fallen 10% YTD, as of last close 

($1 = 1.4734 Australian dollars)

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