Australia's Verbrec hits 1-1/2-month peak on winning $14.5 million contract
BUZZ-Australia's Verbrec hits 1-1/2-month peak on winning $14.5 million contract ** Shares of Australia's Verbrec VBC.AX rise 11.4% to A$0.195, hitting their highest level since May 15
** Stock eyes its strongest trading session since June 22 if gains sustain
** Engineering and project delivery solutions firm secures A$21 million ($14.47 million) contract to unlock commercial gas in Beetaloo Basin in the Northern Territory
** Says contract awarded by the Northern Territory Government-owned Power and Water Corporation to be delivered across two stages till 2028
** Adds project to materially strengthen the security of gas supply in the state
** About 693,000 shares trade hands, 5.1 times the 30-day average
** Stock down 9.3% YTD, including session's moves
($1 = 1.4514 Australian dollars)
(Reporting by Subhalakshmi Dey in Bengaluru)
Recent news on Verbrec
See all newsAustralia's Verbrec rises on bagging $15 million in water infra contracts
Brief: Verbrec Awarded A$22 Million In Water Infrastructure Projects
Australian pipeline maker Verbrec jumps as annual profit soars
Brief: Verbrec Fy2027 Guidance Revenue A$140 - A$160 Million
Brief: Verbrec Posts FY Revenue From Continuing Operations Up 52.2% To A$118.47 Million