4 stocks soaring more than 12% on the ASX today

The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) has fallen 0.1% in mid-afternoon trading, although we could be heading for a positive close, with shares recovering from lows earlier.

Here are four stocks that are soaring today…

Redflow Limited (ASX: RFX) has seen its shares soar more than 20% to 32 cents in trading so far today, after announcing that it had conducted successful trials with its prototype large scale energy storage system. The company, which develops zinc-bromide batteries, says that despite no marketing it is already in early discussions with potential customers. Back in July, my colleague Claude Walker mentioned Redflow as a ‘compelling stock’.

Shares in oil and gas producer AWE Limited (ASX: AWE) have climbed 16% to $1.95, after the company announced the discovery of what could be Western Australia’s largest onshore gas discovery since the 1960s. With its partner Origin Energy Limited (ASX: ORG), AWE says its Senecio-3 well found gas deeper down, and together with the new Waitsia field, could potentially hold as much as 1.17 trillion cubic feet of gas.

OrotonGroup Limited (ASX: ORL) appears to have shrugged off the loss of its Ralph Lauren contract in July last year, with a 16% jump in net profit after tax for the 2014 financial year. The fashion label says this financial year will be a year of transformation as it moves ahead with three major brands under its bonnet, Oroton, GAP and Brooks Brothers. Shares in OrotonGroup surged 12.6% to $4.11 in mid-afternoon trading, and you can read more on the result here.

iProperty Group Ltd (ASX: IPP) has seen its shares rocket up 12.4% to $2.99, despite no official news from the company. Mind you, shares in the real estate portals company dropped 8% yesterday, again on no news. While iProperty has yet to report a profit, revenues and earnings before interest, tax, depreciation and amortisation (EBITDA) are growing strongly, while its Hong Kong business recently reached profitability.

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Motley Fool writer/analyst Mike King owns shares in iProperty Group. You can follow Mike on Twitter @TMFKinga

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