Why Hipages, IGO, Talga, and Vulcan shares are storming higher

These ASX shares are performing very positively today…

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is fighting hard to continue its winning run. At the time of writing, the benchmark index is up slightly to 7,411.8 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:

Hipages Group Holdings Ltd (ASX: HPG)

The Hipages share price is up 3% to $3.74. Investors have been buying the online tradie marketplace provider’s shares after it announced the acquisition of Builderscrack for A$11.8 million. It is New Zealand’s leading online tradie marketplace with 4,000 active tradies and 200,000 registered homeowners across the NZ$26 billion total addressable market.

IGO Ltd (ASX: IGO)

The IGO share price is up 3% to $10.50. This appears to have been driven by a bullish broker note out of Citi. According to the note, the broker has upgraded IGO’s shares to a buy rating from neutral with a price target of $12.40. Citi likes IGO due to its exposure to lithium through its Greenbushes and Kwinana operations in Western Australia.

Talga Group Ltd (ASX: TLG)

The Talga share price is up 13% to $1.56 after announcing drilling results from its wholly-owned Vittangi Graphite Project in Sweden. According to the release, Talga achieved spectacular graphite results from six new drill holes of the 56-hole program completed earlier this year.

Vulcan Energy Resources Ltd (ASX: VUL)

The Vulcan share price is up 16% to $11.31. Investors have been buying this lithium developer’s shares after it signed a binding lithium hydroxide offtake agreement with the world’s largest automaker, Volkswagen Group. From 2026, Volkswagen will purchase a minimum of 34,000 tonnes and a maximum of 42,000 tonnes of battery grade lithium hydroxide over a five-year term.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Hipages Group Holdings Ltd. The Motley Fool Australia has recommended Hipages Group Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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