Australia's Orbital Corp rises on signing heavy fuel engine supply deal

Orbital

23/06/2023 06:22

** Shares of Australia's Orbital Corp Ltd  OEC.AX  climb as
much as 6.7% to A$0.160
    ** On track for biggest intra-day pct gain since June 15, if
trend holds 
    ** OEC marks fist session of gains in six days 
    ** Industrial technology firm signs new heavy fuel engine
development and supply contract worth A$1.1 mln ($736,670)
 urn:newsml:reuters.com:*:nFWN38E1XU
    ** Says contract involves the delivery of the Orbital
UAV-designed unmanned aerial vehicle engines, scheduled for the
second half of 2024
    ** Shares, however, are on track to lose over 5.5% so far
this week 
    ** Stock down 16.7% this year, as of last close, vs a 2.2%
increase in benchmark S&P/ASX 200 index  .AXJO  



($1 = 1.4932 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))