Duratec Ltd's stock price soared 5.99% during intraday trading on Wednesday.
The surge follows the company's announcement that its Duratec Ertech joint venture has been awarded a A$281 million defence contract. The project relates to major infrastructure upgrades in anticipation of the arrival of rotational forces from the United States and the United Kingdom.
This significant contract win is expected to enhance the company's project pipeline and financial performance, driving positive investor sentiment.