Indra Soars to Record After Orders Swell to €16 Billion

Indra Sistemas SA soared to a record after the Spanish defense and IT services firm reported earnings that beat expectations and said its order backlog had more than doubled.

The stock rose as much as 20% to €62 ($73.17) on Thursday, surpassing a previous high set in January. It was the biggest intraday gain since March 2016, giving the company a market value approaching €11 billion.