The S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decent gain. In afternoon trade, the benchmark index is up 0.4% to 8,548.5 points.
Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:
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GenusPlus Group Ltd (ASX: GNP)
The GenusPlus share price is up 5% to $4.04. Investors have been buying the national essential power and communications infrastructure provider's shares after it announced two contract wins. The first is from Alinta Energy for the Design, Construction & Commissioning of the Reeves Plains Battery Energy Storage System (BESS). It is worth approximately $105 million. The other contract is a major program of maintenance and upgrade works for Western Power for FY 2026. This order is expected to generate revenue of ~$65 million in the next financial year. Commenting on the BESS contract, the company's managing director, David Riches, said: "This flagship project represents a significant step forward in our strategic growth within the renewable energy sector. It underscores the strength of our long-standing client relationships and our proven track record for safe, reliable delivery."
NIB Holdings Limited (ASX: NHF)
The NIB share price is up 6% to $6.86. The catalyst for this appears to have been a broker note out of UBS. According to the note, the broker has upgraded NIB's shares to a buy rating with an improved price target of $7.85. The broker feels that its shares are cheap in comparison to Medibank Private Ltd (ASX: MPL). It highlights that they are trading at a sizeable and unjustified discount to its rival. Especially given its belief that NIB can deliver double-digit earnings growth through to FY 2028.
Superloop Ltd (ASX: SLC)
The Superloop share price is up 2% to $3.04. This follows news that the telco is upgrading its guidance for FY 2025. It advised that due to the ongoing strong trading performance across the business, its underlying EBITDA for FY 2025 is expected to be at or above $91 million. This is above the top of Superloop's existing guidance range of $83 million to $88 million and represents an increase of over 67% year on year. Superloop's FY 2025 cash capex guidance remains on track for the $28 million to $30 million range.
Titomic Ltd (ASX: TTT)
The Titomic share price is up 9% to 30.5 cents. This morning, this cold spray additive manufacturing company announced that its Netherlands division has been awarded key funding through the 3D Print Kompas program. The ~$1.4 million funding is aimed at accelerating industrial innovation and capability expansion across advanced manufacturing in the region. Titomic's cold spray additive manufacturing process enables the creation of large-scale, high-performance parts without melting metals. This eliminates the typical drawbacks of conventional additive manufacturing such as thermal distortion or residual stresses.
