Australia's Quickstep Holdings eyes best day in 3-1/2 months on hypersonic materials deal

Quickstep Holdings

04/07/2022 04:28

** Shares of aerospace component maker Quickstep Holdings
 QHL.AX  climb as much as 15.8% to A$0.440, set for best day
since March 15, if gains hold
    ** Co starts a jointly funded project to identify, analyse
and test high-temperature materials for the development of
future hypersonic aerostructures 
    ** Signs project with the Department of Defence via the
Defence Science and Technology Group in collaboration with DMTC
Ltd
    ** The project, named Hype-X, "should further diversify and
grow our business over the long term," says Quickstep 
    ** Stock hits highest level since June 10
    ** More than 70,000 shares change hands, compared with the
30-day average of nearly 50,000 shares 
    ** As of last close, Quickstep stock down ~13.6% this year
    


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