Australian engineering contractor Monadelphous gains on orders worth $155 mln

Monadelphous

19/09/2024 03:10

** Shares of Australian engineering services firm
Monadelphous Group  MND.AX  rise as much as 2.8% to A$12.550,
marking their biggest intraday pct gain since Sept. 13
    ** Stock set to break a three-day losing streak, if trend
holds
    ** Co says it has been awarded several new construction and
maintenance contracts totalling ~A$230 mln ($155.34 mln)
    ** Says secured multidisciplinary construction contract at
global miner BHP's  BHP.AX  Prominent Hill Expansion project
    ** Says secured three-year contract for maintenance and
shutdown services at diversified miner South32's  S32.AX 
Worsley Alumina operations
    ** MND stock down ~17% this year including Thursday's moves,
significantly underperforming the S&P/ASX 200 Industrials index
 .AXNJ , which is up 8%
    
($1 = 1.4806 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))