Australia's Quickstep rises after drone order, government grant

Quickstep Holdings

13/06/2024 03:44

** Shares of Quickstep Holdings  QHL.AX  rise as much as
13.3% to A$0.170, their biggest intraday percentage gain since
Dec 27, 2023
    ** Stock hits its highest level since May 22
    ** The aerospace engineering co gets an order from
Australia's drone development company Carbonix for 20 Volanti
aircraft, valued at A$430,000 ($285,950)
    ** Says co also received a request from a foreign military
customer to undertake overseas trials of the Volanti aircraft
    ** Announces A$925,000 space grant from Australian govt's
Commonwealth Department of Science, Industry & Resources
    ** About 264,000 shares change hands vs. the 30-day average
volume of around 58,000
    ** Stock down 44.4% YTD, based on last close

    ($1 = 1.5038 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))