Multibagger defence stock Apollo Micro Systems share price jumped around 15% on Thursday, April 9, the firm announced successful completion of blast trials for limpet mines, a specialised category of underwater explosives used in naval operations.
According to the company, it is currently the only Indian firm to have successfully developed this product for the Indian Navy, highlighting the strategic importance of the achievement.
Following the development, Apollo Micro Systems‘ stock price climbed as much as 14.85% to its intraday high of ₹238.85 per share.
In a regulatory filing dated April 9, the company said the trials mark a major step forward in its efforts to strengthen its position in the underwater defence and electronic warfare segment.
“We wish to inform you that Apollo Micro Systems Limited (the “Company”) has successfully completed blast Trials for Limpet Mines. These Limpet Mines are Diver-Carried Mines used in Naval Defence. We are the only Indian Company who has successfully developed this product for the Indian Navy. This is a remarkable Milestone for the company, positioning it to be a provider of a complete spectrum of underwater Mines right from shallow waters, deep waters, and Limpet Mine Categories, building its strengths in underwater Electronic Warfare systems,” the company said.
Limpet mines are diver-carried explosive devices typically deployed in naval missions to target enemy vessels.
The development positions Apollo Micro Systems as a comprehensive provider of underwater mine solutions, spanning shallow water, deep water, and limpet mine categories. The company said this enhances its capabilities in the broader domain of underwater electronic warfare systems, a critical area in modern naval defence
Apollo Micro Systems share performance
Despite today’s rally, the defence stock remains 48% below its 52-week high of ₹354.65 per share, hit in September 2025. Meanwhile, it touched its 52-week low of ₹110.35 in April 2025.
The stock has given multibagger returns in the last 1 year, rising 105%, whereas it has soared 2320% in 5 years.
However, it has been under pressure recently, down 31% in the past 6 months and 9% in the past 3 months.
Other Recent Developments
Last month, Apollo Micro Systems informed exchanges that a fresh batch of equity shares allotted on a preferential basis to non-promoters has received approval for listing and trading following the conversion of warrants.
The approvals have been granted by both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). As per the company’s disclosure, 11,696 equity shares with a face value of Re 1 each have been approved for listing.
The newly allotted shares have been listed and admitted for trading with effect from March 19, 2026, and will trade under the company’s existing stock symbol.
These shares were issued at ₹114 apiece, including premium, and will rank pari passu with the company’s existing equity shares. This means they will carry the same rights related to dividends, voting and other shareholder benefits as the current outstanding shares.
However, the allotted shares will remain under a lock-in period until September 19, 2026. In line with rules governing preferential allotments, the allottees will not be allowed to sell or transfer these shares in the open market during the lock-in period.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
