Otokar jumps after invitation to Romanian military vehicle contract talks

Otokar Otomotiv ve Savunma Sanayi

07/10/2024 08:31

** Shares in Otokar  OTKAR.IS  jump 10% to top of Turkey's
BIST 100 index  .XU100  after the Turkish military and
commercial vehicle manufacturer had been invited to Romanian
military vehicle contract talks
    ** Otokar said on Friday it had been invited to contract
negotiations for an armoured vehicle procurement tender held by
Romania, worth some $940 million
    ** "This contract represents 82% of the company's revenue
over the last four quarters, and it is expected to positively
impact the company's operational profitability and stock
performance," brokerage Halk Yatirim says
    ** Otokar shares are at almost two-week high
   

 (Reporting by Canan Sevgili and Miraç Eren Dereli)
 ((canan.sevgili@thomsonreuters.com))