Apollo Micro Systems shares are among the multibagger stocks that the Indian stock market has delivered inrecent years. The defence stock has rallied by around 125% in one year and by more than 3,250% in five years. However, it seems the defence stock still has some upside potential. After a gap-down opening, Apollo Micro Systems’ share price witnessed strong upside, touching an intraday high of ₹391.95 per share on the NSE, recording an intraday gain of more than 3%.
Apollo Micro Systems latest news
The multibagger defence stock came under the bulls’ radar when it informed the Indian market exchanges about the successful completion of its Indian Navy project. The defence company, which once served ISRO, informed the Indian market exchanges that it has successfully handed over the indigenously developed Safety & Detonation Device (SDD) to the Indian Navy.
“We are pleased to inform you that Apollo Micro Systems Limited, in the ordinary course of its business, has successfully handed over the indigenously developed Safety & Detonation Device (SDD) to the Indian Navy,” the company said in its exchange filing on Friday.
The handover ceremony was conducted in the presence of Rear Admiral Rupak Barua, VSM, Director General of Naval Inspection (DGNAI), Indian Navy, along with senior officers of the Indian Navy and the leadership team of Apollo Micro Systems Limited.
The Safety Arming Device is among the most critical and unforgiving sub-systems of any modern munition. It is the final guardian between a weapon and its target ensuring that ordnance remains absolutely safe through storage, handling, transportation and launch, and arms only when every prescribed condition of a valid engagement sequence is unambiguously satisfied. In the demanding maritime environment characterised by shock, vibration, humidity, salt-fog and severe electromagnetic conditions the reliability of the Safety Arming Device directly determines both the safety of the platform and its crew, while ensuring the assured performance of the weapon at the moment of truth.
Significance of this Indian Navy project
Before the indigenous development of the Safety & Detonation Device (SDD), the Indian Navy relied on imports for this critical equipment. The successful indigenous development of the SDD is expected to significantly reduce procurement costs for the Indian Navy and enhance self-reliance in the defence sector.
The handover of the SDD marks the successful culmination of a rigorous design, development, qualification, and validation journey and stands as a proud testament to what Indian industry can deliver when entrusted with the most safety-critical elements of a weapon system.
The Company expects this indigenisation success to translate into a healthy pipeline of production orders and follow-on programmes, as the Indian Navy and other users progressively induct indigenous safety and arming solutions across their weapon inventories. AMS is fully geared, in terms of design strength, manufacturing infrastructure and quality systems, to support series production and lifecycle sustenance of the SDD and its derivatives.
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