Highlights

• Three ASX-listed companies recorded strong gains following significant corporate and business updates.
• Robust demand, new contract wins and substantial shareholder activity were among the key developments attracting market attention.
• The three stocks delivered gains of more than 7% during the session.

ASX Stocks in Focus as Shares Move Higher

Several ASX-listed companies were in focus on 29 September 2026, with fresh corporate developments helping drive notable share-price movements. Codan Limited, Perenti Limited and Elsight Limited recorded strong gains as investors assessed updates covering business demand, contract activity and changes in substantial shareholdings. The strongest move came from Codan, while Perenti and Elsight also posted sizeable advances.

Stocks in Focus

• Codan Limited (ASX: CDA) is trading at a current market price of AU$63.260, up AU$11.269 or 21.677%.
• Perenti Limited (ASX: PRN) is trading at AU$2.325, up AU$0.175 or 8.139%.
• Elsight Limited (ASX: ELS) is trading at AU$5.050, up AU$0.359 or 7.675%.

Codan Up on Strong Communications Demand

Codan announced its H1 FY27 trading update on 29 September 2026, highlighting continued momentum across its Communications business. The company said trading and order intake strengthened during the first quarter, with H1 FY27 Communications revenue now expected to reach between $400 million and $410 million, compared with $221.8 million in the prior corresponding period. Codan also expects the Communications segment to deliver an H1 FY27 EBIT margin of around 40%, compared with 26% a year earlier. Group NPAT for the first half is currently expected to be at least $160 million, subject to final product mix and shipments. For FY27, Codan is targeting Communications revenue growth of 30% to 40% compared with FY26.

Perenti Secures More Than AU$200 Million in Contracts

Perenti announced on 29 September 2026 that its drilling businesses and AUMS had secured multiple contracts valued at more than AU$200 million. The drilling awards span projects across Australia, the US and Canada and are expected to contribute approximately AU$185 million in FY27 revenue. Separately, AUMS secured an initial contract worth about AU$20 million at Endeavour Mining’s Sabodala-Massawa Mining Complex in Senegal.

Elsight Sees Substantial Holder Activity

Elsight was also in focus following a substantial holder notice showing that UBS Group AG and its related bodies corporate became a substantial holder on 22 September 2026. The filing disclosed a relevant interest in 13,004,898 ordinary shares, representing voting power of 5.84%.

The combination of these corporate developments and strong daily share-price gains placed the three companies firmly on the ASX market radar.

Outlook for the Three ASX Stocks

The latest announcements provide different near-term catalysts for the three companies. Codan’s outlook will depend on whether elevated Communications demand, particularly from conflict regions, can be sustained into the second half of FY27, with the company noting that visibility in these markets remains limited.

For Perenti, the newly secured contracts are expected to contribute meaningful revenue in FY27, while the second phase of the Sabodala-Massawa project remains subject to Endeavour’s decision to proceed.  Meanwhile, Elsight’s market focus may remain on the significance of UBS Group’s newly disclosed 5.84% voting interest and any subsequent changes in its substantial holding. With all three stocks posting strong gains, investors may now watch for further company updates and evidence of whether these catalysts translate into sustained business momentum.

Note- All data presented is based on information available at the time of writing.

Disclaimer for Kapitales Research

The materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.

Customer Notice:

Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.Disclosure: The information mentioned above has been sourced from the company reports and a third-party database, i.e. Koyfin. Investors are advised to use strict stop-loss to protect their investments in case of any unfavorable/uncertain market events.

Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au