Orbital Corp rises to near 3-wk high on military tech MoU with U.S. defence co

Orbital

11/05/2022 03:53

** Shares of industrial technology company Orbital
Corporation Ltd  OEC.AX  rise as much as 15.8% to A$0.33, their
highest since April 21, 2022 
    ** Co says it signed a memorandum of understanding with
U.S.-based defence products co Anduril Industries Asia Pacific
Pty Ltd for a collaborative agreement to work on uncrewed
military technology  urn:newsml:reuters.com:*:nASXb7kTnD
    ** Co to deliver a test engine for evaluation in the second
quarter 
    ** Stock could see its best day since March 29, if gains
hold
    ** Shares down 27.4% this year, as of last close

 (Reporting by Anan Ashraf)
 ((Anan.Ashraf@thomsonreuters.com;))