Axia Energia shares surge 6.19% intraday after securing ANDRITZ contract to modernize Itumbiara hydropower plant in Brazil.

AXIA Energia surged 6.19% intraday after announcing a major automation modernization contract with ANDRITZ for the Itumbiara hydropower plant in Brazil. The project, valued in the lower double-digit million-euro range, involves upgrading the plant’s protection, control, and supervision systems, enhancing operational reliability and safety. This strategic infrastructure investment underscores AXIA’s commitment to technological resilience and long-term efficiency, aligning with the stock’s bullish momentum. Technical indicators, including a rebound from the 30-day support level and oversold RSI conditions, further reinforced the upward trend, while sector-specific ETFs like SMOG and EMIF also rallied, amplifying the stock’s intraday gains.