Australia's Orbital up on receiving first order from Textron unit

Orbital

19/12/2023 02:33

** Shares of Orbital Corporation  OEC.AX  up 2%, paring back
gains of 22.5% earlier in the session
    ** Industrial technology co says it has received a first
order for production-ready engines from subsidiary of Textron
 TXT.N 
    ** Order is worth A$2.1 mln ($1.4 mln) and is an extension
of the long-term supply agreement signed with Lycoming Engines
in 2021
    ** About 466,377 shares change hands, compared with the
30-day average volume of 64,936 shares
    ** Still, stock is down 44.4% YTD

($1 = 1.4896 Australian dollars)

 (Reporting by Megha Rani in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))