Apollo Micro Systems Jumps 7% After Bagging Rs 51 Crore Order Win
Shares of Apollo Micro Systems Limited surged on 8 May, hitting a day high of Rs 337.40 on the BSE after the company disclosed fresh order wins totalling Rs 51.02 crore in the ordinary course of business. The announcement drove heavy buying interest from the opening, with the stock gapping... The post Apollo Micro Systems Jumps 7% After Bagging Rs 51 Crore Order Win appeared first on Equitypandit.
Shares of Apollo Micro Systems Limited surged on 8 May, hitting a day high of Rs 337.40 on the BSE after the company disclosed fresh order wins totalling Rs 51.02 crore in the ordinary course of business. The announcement drove heavy buying interest from the opening, with the stock gapping up and holding gains through the morning session.
In an exchange filing, the Hyderabad-based defence electronics firm revealed three distinct contract wins. The Ministry of Defence awarded contracts worth Rs 17.47 crore, public sector defence undertakings contributed Rs 9.52 crore and private sector clients accounted for the remaining Rs 24.01 crore.
Valued at Rs 51.02 crore in total, the order inflow adds to a broader momentum building across the defence and aerospace segment. Last month, the company obtained a lifetime government licence to manufacture, assemble, integrate and proof-test high-value strategic weapon systems and munitions. The licence covers weaponry with a calibre exceeding 12.7 mm, spanning missiles, anti-tank guided missiles, torpedoes, underwater mines, aerial bombs, rockets and loitering munitions, granted by the Ministry of Commerce and Industry through DPIIT.
The timing of the order win sits within a wider sectoral rally. The Nifty India Defence index has been gaining ground, with peers including HAL, Data Patterns and MTAR Technologies all seeing positive momentum in recent sessions. Apollo Micro Systems itself has been a consistent multibagger, with the stock’s 52-week range sitting between Rs 114 and Rs 354.65 on the BSE.
At 14:55 pm on 8 May, shares of Apollo Micro Systems were trading at Rs 325.00, up 3.37% on the BSE, well off the morning high as broader market weakness weighed on sentiment into the afternoon.
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