The S&P/ASX 200 Index (ASX: XJO) is on form again on Tuesday and is pushing higher. In afternoon trade, the benchmark index is up 0.3% to 7,769.8 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are pushing higher:
Accent Group Ltd (ASX: AX1)
The Accent Group share price is up 5% to $1.90. This morning, Accent announced that it will be granted the right to launch and operate the Sports Direct business (including online) in the ANZ region for an initial 25-year term. The company revealed that it has plans for an initial roll-out of at least 50 Sports Direct stores over the next 6 years. However, it ultimately sees an opportunity for 100 plus Sports Direct stores in the region. Accent CEO, Daniel Agostinelli said: "After extensive discussions, we are very pleased to announce a long-term strategic relationship with Frasers to open Sports Direct in Australia and New Zealand. Sports Direct is one of the leading sporting goods retailing businesses globally. Frasers and Accent see a significant opportunity to bring a new and exciting global sports business to the Australian and New Zealand markets."
DroneShield Ltd (ASX: DRO)
The DroneShield share price is up a further 11% to $1.15. This counter drone technology company's shares have been storming higher this week after announcing new contract wins. The company received a package of five separate contracts totalling $32.2 million. These contracts were placed by an in-country reseller for delivery to a military end customer in an Asian Pacific country. Bell Potter was impressed. So much so, this morning the broker retained its buy rating and lifted its price target to $1.30 from $1.10. It said: "Current industry tailwinds and DRO's strong performance YTD gives us confidence that customer activity is increasing following a brief pause around the US election last year."
EBR Systems Inc (ASX: EBR)
The EBR Systems share price is up 5% to $1.47. On Monday, this medical device company announced FDA approval for the WiSE CRT System. It is the world's first and only lead-less solution for left ventricular endocardial pacing. Management notes that for the first time, clinicians can deliver cardiac resynchronisation therapy without leads. EBR will initially target a US$3.6 billion addressable market across high-risk upgrade, lead failure, and lead-less CRT expansion categories, with future opportunity to expand into other indications.
Titomic Ltd (ASX: TTT)
The Titomic share price is up 14% to 24 cents. The catalyst for this is news that the cold spray additive manufacturing technology company is collaborating with Northrop Grumman to develop and manufacture high-performance pressure vessels. Management notes that this work is a pivotal step in Titomic's strategic shift toward high-value collaborations in aerospace and defense, demonstrating its commitment to delivering integrated solutions for mission-critical components. It also highlights that the collaboration leverages Titomic's expertise in cold spray systems and Northrop Grumman's leadership in aerospace and defense. They have a shared goal of enhancing the performance, durability, and significantly reducing the production schedule of critical pressure vessels.
The post Why Accent, DroneShield, EBR Systems, and Titomic shares are pushing higher appeared first on The Motley Fool Australia.
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