Australia's SKS Technologies hits 2-week high on securing new contract

SKS Technologies

22/11/2023 04:15

** Shares of SKS Technologies Group  SKS.AX  jump as much as
18.4% to A$0.225, hitting their highest since Nov 10 
   ** Stock posts its biggest intraday pct gain since Nov 10 
   ** The tech firm says it has received a contract to supply
and install electrical systems for an international hyper-scale
data centre operator
   ** Says expected contract value of project will exceed A$30
mln ($19.52 mln)
    ** SKS sdds it has secured an increase in its bank financing
facilities from A$8 mln to a total of A$12 mln from Commonwealth
Bank of Australia  CBA.AX  
   ** Adds co will be responsible for the design, installation,
among others for the 28-megawatt critical environment data
centre facility
    ** SKS stock up 8.6% this year, as of last close

   ($1 = 1.5366 Australian dollars)

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com;))