The S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. In afternoon trade, the benchmark index is down 0.25% to 8,958.9 points.
Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:
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DroneShield Ltd (ASX: DRO)
The DroneShield share price is up 4% to $6.53. This morning, this high-flying counter drone technology company announced plans to build a new $13 million counter-drone research and development facility in South Australia. Commenting on the news, DroneShield's CEO, Oleg Vornik, said: "South Australia is recognised as a national leader in defence and space industries, with Adelaide home to a highly skilled and experienced workforce. Establishing our first R&D office in Australia outside of our Sydney Headquarters – in Adelaide – is a strategic move that supports DroneShield's mission to deliver world-leading counter-drone and electronic warfare solutions."
Greatland Resources Ltd (ASX: GGP)
The Greatland Resources share price is up 13% to $8.60. Investors have been buying this gold miner's shares following the release of its quarterly update. Greatland Resources revealed that it achieved production of 80,890 ounces of gold and 3,366 tonnes of copper. As a result, it has reaffirmed its guidance of 260,000 ounces to 310,000 ounces for FY 2026. The release also highlights that its cash balance increased $175 million to $750 million during the quarter. The gold miner remains debt free.
Mesoblast Ltd (ASX: MSB)
The Mesoblast share price is up 7.5% to $2.78. This morning, this biotechnology company released an update on sales of its Ryoncil (remestemcel-L) product for its second quarter post launch. Mesoblast achieved gross revenue of US$21.9 million from Ryoncil, which is 66% on the prior quarter. Mesoblast's chief executive, Dr. Silviu Itescu, said: "We are very pleased with the adoption of Ryoncil® to date and with reimbursement by both commercial and government payers. We expect adoption to be further enhanced following the permanent J-Code assigned by Centers for Medicare and Medicaid Services (CMS) which became active October 1."
Web Travel Group Ltd (ASX: WEB)
The Web Travel share price is up 3.5% to $4.19. This follows the release of a first half update from the business to business travel technology company. Web Travel revealed that it recorded an 18% lift in WebBeds booking volumes to 5.07 million for the half. This is in line with its guidance for "up mid to high teens (%)." Web Travel also posted TTV of $3.17 billion for the six months, which is an increase of 22.4% on the prior corresponding period. A record EBITDA result is expected for the full year.
