Australia's Rectifier Technologies drops the most in nearly two years on order delivery delays

Rectifier Technologies

28/09/2022 03:55

** Shares of Rectifier Technologies Ltd  RFT.AX  dip as much
as 15.8% to A$0.032, lowest since Nov 1. 2021
    ** The power rectifier maker says entirety of the order
placed by Tritium Pty Ltd is now scheduled to be delivered by
end of 2023, as opposed to end of 2022 (https://bit.ly/3dUFnVT)
    ** Co received product purchase orders from Tritium for
supply of 35kW high-voltage and high-efficiency modular power
supply units for high-powered DC electric vehicle charging  
    ** On Feb 9, co said the Tritium order was for $20 mln
    ** Says delay due to electronic component and material
shortages, which remain a global problem
    ** Worst intraday pct loss since Nov. 11, 2021
    ** 2.6 mln shares exchange hands vs the 30-day average of
427,000
    ** Stock has fallen 7.3% this year, as of last close 
 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))