Qorra shares rise nearly 15% for the week to 2.12 pounds as 195.52 million shares trade
Key Facts
Shares of Qorra for Energy Projects and Investment rose nearly 15% in the week ended November 12 to 2.12 pounds, according to data reported by Investing.com. On Thursday, November 12, the stock topped the Egyptian Exchange’s most-active list, with 195.52 million shares traded. The activity came at the end of a week that saw a sharp move in the stock during Tuesday’s session. On Thursday, the company disclosed that it had won a contract to carry out the second phase of Ahl Masr Hospital in New Cairo, and announced another contract to build the Al-Amin Industrial Complex. The two contracts are worth a combined 1.136 billion pounds before value-added tax, according to Arab Finance.
The sharp weekly move began before the hospital contract disclosure: the stock closed the previous week at 1.84 pounds, then rose 15.05% on Tuesday, November 10, to 2.14 pounds, after touching 2.19 pounds during the session. Trading volume that day reached 383.21 million shares. The stock then fell 1.87% on Wednesday before rising 0.95% on Thursday to close at 2.12 pounds. These moves show a sequence different from linking Tuesday’s jump to the contract announcement, which came on November 12. The 2.19-pound level was the stock’s highest price during Tuesday’s session, according to Investing.com.
The hospital contract covers architectural and electromechanical finishing, medical gases and fixed equipment, according to details relayed by Sigma Securities from the company’s disclosure. The contract was valued at 573.96 million pounds excluding value-added tax, according to Investing.com. The company said the project would support its operating revenue, profitability and cash flows during fiscal year 2026/2027, Arab Finance also reported. This places the contract’s expected impact within the results for that fiscal year, without changing when the company disclosed that it had won it. The project is one of two contracts Qorra announced on November 12.
The Al-Amin Industrial Complex contract is valued at 562.289 million pounds and includes construction of a gelatin and collagen factory, civil and electromechanical works and finishing, as well as warehouses, service buildings, infrastructure, roads and site landscaping. The project covers an area of 14,000 square meters, according to Arab Finance. Adding its value to the Ahl Masr Hospital contract brings the combined value of the two projects to 1.136 billion pounds before value-added tax. The industrial contract adds a range of construction and service works to the portfolio of projects the company announced in the same session in which it disclosed the hospital contract. These details cover the nature of the work, the area and the announced value of each project.
Investing.com reported technical indicators for the stock as of November 12, including a Relative Strength Index of 66.1, a MACD of 0.068 and an ADX of 38.6. The report said the Relative Strength reading approached but did not reach 70, while the MACD remained positive. These readings followed the stock’s rise early in the week, its decline in Wednesday’s session and its partial recovery on Thursday. The 2.19-pound peak was not a subsequent trading result, but the highest price the stock touched in the November 10 session. These indicators describe the technical data reported on November 12.