In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to finish the day lower. At the time of writing, the benchmark index is down 0.55% to 8,718.9 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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Elsight Ltd (ASX: ELS)
The Elsight share price is up over 6% to $7.13. This morning, the ASX defence stock revealed that its Halo connectivity platform has been included in the U.S. Department of War's Defense Contract Management Agency (DCMA) Blue List. It is a directory of approved, National Defense Authorization Act (NDAA)-compliant unmanned aircraft systems and components. Elsight's CEO, Yoav Amitai, commented: "Halo's inclusion on the Blue List arrives at a moment when U.S. defence drone procurement is scaling at an unprecedented pace. With approximately US$75 billion (A$105 billion) proposed for drone and counter-drone capabilities in FY2027 alone, the pathway from Blue List approval to operational deployment has never been shorter or more clearly defined. This milestone validates Halo as a trusted backbone for the next generation of U.S. defence programs."
Iperionx Ltd (ASX: IPX)
The Iperionx share price is up 5% to $4.48. This may have been driven by a broker note out of Bell Potter this morning. It has retained its speculative buy rating on the titanium production technology company's shares with an $8.25 price target. It said: "IPX has the potential to disrupt the incumbent titanium supply chain through materially lowering production costs and manufacturing waste. The company will incrementally expand capacity and progress commercial relationships with aerospace, automotive, luxury goods and government end users."
Predictive Discovery Ltd (ASX: PDI)
The Predictive Discovery share price is up 3% to 98.5 cents. Investors have been buying this gold miner's shares following the release of a strong quarterly update. Predictive Discovery revealed that revenue surged 321% to US$200.8 million for the three months. This was driven by a sharp lift in gold sales volumes and stronger realised gold prices (US$4,806 per ounce) during the quarter. And thanks to lower costs, the company delivered a cash margin from operations of US$139 million.
Reliance Worldwide Corporation Ltd (ASX: RWC)
The Reliance Worldwide share price is up 5% to $3.20. This follows the release of a trading update from the plumbing parts company. Investors appear pleased that its full-year guidance has been reaffirmed after nine months of trading. Another positive is that the FY 2026 net cost impact of US tariffs is expected to be at the lower end of the previously indicated US$25 million to US$30 million guidance range.
