Why DroneShield, IPD, Mesoblast, and Woodside shares are charging higher today
The S&P/ASX 200 Index (ASX: XJO) is fighting hard to stay in positive territory on Tuesday afternoon. At the time of writing, the benchmark index is up slightly to 8,726 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 4% to $3.25. This follows the announcement of its third contract win in as many weeks. This morning, DroneShield announced that it has received a contract for $8.2 million from an in-country reseller for delivery to a western military end-customer. The contract is for handheld counter-drone systems, associated accessories and spare kits, and software updates. DroneShield advised that it has this stock on the shelf. As a result, it expects to complete the delivery prior to end of 2025 or early in the first quarter of 2026.
IPD Group Ltd (ASX: IPG)
The IPD Group share price is up 5% to $4.42. Investors have been buying the electrical solutions provider's shares after it signed an agreement to acquire Platinum Cables for $37.5 million upfront. It is a leading Australian provider of high-performance cable solutions for the mining and resources sector. IPD's CEO, Michael Sainsbury, commented: "The acquisition of Platinum Cables is a continuation of our growth strategy that reinforces our leadership in the mining sector and delivers immediate earnings accretion for shareholders."
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is up almost 2% to $2.86. This morning, the allogeneic cellular medicines developer revealed that it has repaid in full its existing senior secured loan from Oaktree Capital Management and in part its subordinated royalty facility from NovaQuest Capital Management. This was achieved by drawing down US$75 million from a new five-year facility provided by existing Mesoblast shareholder and director, Dr Gregory George. The new credit line has a fixed interest rate of 8% per annum, which is a substantial reduction from Mesoblast's current debt facilities, with a five-year interest only period.
Woodside Energy Group Ltd (ASX: WDS)
The Woodside Energy share price is up 1.5% to $23.46. Investors have been buying this energy producer's shares following a rise in oil prices overnight. Traders were bidding oil prices higher in response to tensions in Yemen. It isn't just Woodside shares that are rising today. The S&P/ASX 200 Energy index is up approximately 1.2% at the time of writing.
The post Why DroneShield, IPD, Mesoblast, and Woodside shares are charging higher today appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended DroneShield and Ipd Group. The Motley Fool Australia has positions in and has recommended Ipd Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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