Australia's Norwood Systems jumps on services deal with India's Infosys

Norwood Systems

04/03/2022 24:29

** Norwood Systems  NOR.AX  rises as much as 54.6% to
A$0.017, its biggest intraday pct jump June 3
    ** Telecom firm secures https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02495542-6A1080269?access_token=83ff96335c2d45a094df02a206a39ff4
 first contract with Indian software firm Infosys Ltd  INFY.NS 
to provide telecommunication services
    ** Under contract, NOR to provide communications services to
a Germany-based client of Infosys
    ** NOR expects to get about A$170,000 in revenue over the
contract's 12-month period
    ** Adds that it has the potential to generate ongoing
recurring revenue in the long-term from the deal
    ** NOR at its highest since Jan. 19; about 9.3 mln shares
change hands, vs the 30-day average of 284,000 shares
    ** NOR down 37.1% this year, as of last close

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