Multibagger defence stock: Apollo Micro Systems share price rebounded 0.82% to ₹401.45 apiece in Wednesday’s trading session after the company informed that it has received a new order from DRDO, Defence PSUs, and Private Industries.
The defence stock opened at ₹400.95 apiece on Wednesday, slightly higher than its previous close of ₹398 on Tuesday. After opening in the green, the stock turned volatile, slipping into negative territory during the session before recovering to trade in positive territory again.
Apollo Micro Systems recent business updates
In an exchange filing dated 5 August, Apollo Micro Systems announced it has secured a new order from DRDO, Defence PSUs, and Private Industries worth ₹213 crore (2133.91 million).
“We wish to inform you that, in the ordinary course of its business, the Company has been awarded orders worth INR 2133.91 million from DRDO, Defence PSUs, and Private Industries,” the company said in the filing.
The company, however, has not shared any additional information regarding the new orders.
The defence company, which previously supplied equipment to ISRO, has informed Indian stock exchanges that it has successfully delivered its 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.
The handover ceremony took place in the presence of Rear Admiral Rupak Barua, VSM, Director General of Naval Inspection (DGNAI) of the Indian Navy, along with senior naval officials and the leadership team of Apollo Micro Systems Limited.
The Safety Arming Device is one of the most vital components of modern ammunition, serving as the final safeguard between a weapon and its intended target. It ensures that the ordnance remains completely secure during storage, handling, transportation and launch, while activating only after all predefined conditions of a valid engagement sequence have been met. In harsh maritime conditions marked by shock, vibration, humidity, salt fog and intense electromagnetic interference, the reliability of the Safety Arming Device is essential for protecting both the platform and its crew, while also ensuring the weapon performs as intended during critical operations.
Apollo Micro Systems share price trend
Apollo Micro Systems share price trend has remained volatile amid weak market sentiments. The defence stock has gained 3.46% in a week, however, has slipped 12% in a month.
Furthermore, the defence stock has given 28.54% gains in three months, 61% in six months, and 43.69% on year-to-date (YTD) basis.
Looking at the broader level, the stock has delivered 588% returns in three years and 3186% in five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
