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BUZZ-Australia's Austin Engineering rises on $1.7 mln orders from India

Reuters
Dec 16, 2024

** Austin Engineering gains as much as 3% to A$0.520; biggest intraday pct gain since Nov. 28

** Mining equipment maker gets purchase orders worth ~A$2.7 mln ($1.7 mln) from tier-one iron ore producer in India for 17 ULTIMA trays, used to enhance truck payload capacity

** Orders part of tray replacement programme, with with a service life of around four years

** Co sees strong potential for future opportunities in India

** Appoints representative to oversee contract, further business in world's fourth-largest iron ore producer

** Over 3.7 mln shares traded, 2.6x the 30-day avg

** ANG gains ~56% YTD

($1 = A$1.5689)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))

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