Australia's XTEK sees best day in over 9 years on new contract

Highcom

27/05/2022 02:05

** Shares of defence products maker XTEK Ltd  XTE.AX  soar
as much as 51.6% to A$0.485, mark best session since February
2013, if gains hold
    ** Stock on track for its third straight session of gains
    ** Co's unit, HighCom Armor Solutions, receives a new
purchase order from an undisclosed international customer to the
value of $33.21 million  urn:newsml:reuters.com:*:nASX1mhL3r
    ** Co says that total group new contract since March 1 now
exceeds A$69.5 mln ($49.31 mln)
    ** Stock hits highest level since June 2021
    ** More than 1.5 mln shares change hands, compared with the
30-day average volume of about 298,000 shares
    ** Stock has risen 42.2% this year, as of last close

($1 = 1.4094 Australian dollars)

 (Reporting by Jaskiran Singh in Bengaluru)
 ((Jaskiran.Singh@thomsonreuters.com;))