Australia's Orbital Corp climbs on contract with U.S.-based unmanned cargo transport firm

Orbital

28/10/2021 03:43

** Shares of Orbital Corp Ltd  OEC.AX  rise as much as 5.7%
to A$0.655, mark their best day since Oct 14
    ** The propulsion systems provider announces signing
Memorandum of Understanding (MoU) with U.S.-based unmanned cargo
transport co Skyways  urn:newsml:reuters.com:*:nASX6GNvqC
    ** Under the terms, OEC to deliver a pre-production, heavy
fuel engine for Skyways' unmanned air system 
    ** OCE stock hits highest level since Oct 19
    ** More than 57,000 shares traded hands vs 30-day moving
average of about 32,000 shares
    ** Stock down 44.7% this year, as of last close

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