Why Develop Global, James Hardie, Life360, and Ora Banda shares stormed higher

These ASX shares had a strong session on Tuesday.

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The S&P/ASX 200 Index (ASX: XJO) was out of form on Tuesday. The benchmark index dropped 0.45% to 7,234.7 points.

Four ASX shares that didn't let that hold them back are listed below. Here's why they were rising today:

Develop Global Ltd (ASX: DVP)

The Develop Global share price jumped 7% to $3.50. Investors were buying this mineral exploration company's shares after the release of promising drilling results. Develop Global revealed that it has intersected exceptionally thick, high-grade copper and zinc mineralisation outside the underground resource at its Woodlawn copper-zinc-silver project in New South Wales.

James Hardie Industries PLC (ASX: JHX)

The James Hardie share price climbed 8% to $36.80. This follows the release of the building materials company's full-year results. James Hardie reported group net sales growth of 4% over the prior corresponding period to a record US$3,777.1 million. And while its adjusted net income was down 2% to US$605.5 million, this still appears to have impressed the market given the tough trading conditions.

Life360 Inc (ASX: 360)

The Life360 share price rose 12% to $6.47. This was driven by the release of the location technology company's strong first-quarter update. For the three months ended 31 March, Life360 reported a 34% increase in revenue to US$68.1 million and positive adjusted EBITDA. The latter was one quarter ahead of target. The good news is that management believes it will be onwards and upwards from here for profitability.

Ora Banda Mining Ltd (ASX: OBM)

The Ora Banda share price climbed 6.5% to 16.5 cents. This morning, this gold explorer released a drilling update that has got investors excited. Management notes that the final results from Riverina Underground Phase 1 drilling continue to return positive data extending the underground mining potential.

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has no position in any of the stocks mentioned. 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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