Australia's Rectifier Technologies hits over 20-year high on purchase orders

Rectifier Technologies

09/02/2022 02:33

** Shares of Rectifier Technologies  RFT.AX  soar as much as
102.3% to more than double in value to A$0.087, hitting highest
since August 2001
    ** The power rectifier maker receives product purchase
orders from Tritium Pty Ltd totalling about $20 mln  urn:newsml:reuters.com:*:nASX6Kq1yG
    ** Says orders are for supply of high-voltage and
high-efficiency modular power supply units for electric vehicle
charging 
    ** RFT marks its sharpest intraday percentage gain since
June 2018
    ** At 78.1 mln shares, volumes are 76.8 times the 30-day
average of 1 mln shares
    ** As of last close, stock up 4.9% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))