Multibagger defense stock jumps 6% on new order news, FIIs buy 16.62 lakh shares
Synapsis
Apollo Micro Systems Limited (AMS) had received an order of Rs 6.14 crore from the Defence Research and Development Organisation (DRDO).
The stock market was bullish on Wednesday and Nifty closed at 23163 with a gain of 205 points. Some stocks saw a rise due to news flow. The share price of Apollo Micro Systems saw a rise.
Shares of Apollo Micro Systems Ltd rose 5.80 per cent to hit an intraday high of Rs 125.80 per share from its previous close of Rs 118.95 per share. The stock has a 52-weeks high of Rs 157 per share and a 52-weeks low of Rs 88.10 per share.
Apollo Micro Systems Limited said that the company has been declared the lowest bidder (L1) for an order worth Rs 7.37 crore from the Defense Research and Development Organization (DRDO). Earlier, Apollo Micro Systems Limited (AMS) had received an order worth Rs 6.14 crore from the Defense Research and Development Organization (DRDO).
In December 2024, FIIs bought 16,62,374 shares of the company, increasing their stake to 0.74 per cent from 0.19 per cent in September 2024.
Founded in 1985, Apollo Micro Systems is a pioneer in the design, manufacture and validation of critical electronics and electro-mechanical solutions for sectors such as aerospace, defense and space.
The company is renowned for its commitment to research and development, resulting in notable projects such as torpedo-homing systems and underwater mines.
As per the company’s quarterly results, total income grew 85 per cent to Rs 161.30 crore in Q2 FY25 as compared to Q2 FY24 and profit after tax (PAT) grew 140 per cent to Rs 15.73 crore, while in its half-yearly results, net sales grew 74 per cent to Rs 253.09 crore in H1 FY25 as compared to H1 FY24 and profit after tax (PAT) grew 194 per cent to Rs 24.16 crore.
In its annual results, net sales grew 24.91 per cent to Rs 371.63 crore in FY24 as compared to FY23 and profit after tax (PAT) grew 66.01 per cent to Rs 31.11 crore.
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