Apollo Micro Systems share: Shares of Apollo Micro Systems Ltd (AMSL), a Hyderabad-based aerospace and defence company, saw a boost on Wednesday after the company announced it had received new business orders. The stock, which is part of the small-cap category, rose by as much as 2.46% during the day, reaching an intraday high of Rs 114.55 on the Bombay Stock Exchange (BSE). The stock had closed at Rs 111.75 in the previous trading session.
By 2:50 PM, the stock was still trading in the green, up by over 1% at Rs 113.30. This marks the second consecutive day of gains for the stock. Currently, the stock is trading higher than its 100-day and 200-day moving averages but lower than its 5-day, 20-day, and 50-day moving averages.
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According to ET Now, the rise in the share price came after the company informed the stock exchanges that it had secured new orders worth Rs 50.97 crore from private companies. The orders include Rs 11.69 crore from Reliable Technosystems and Rs 39.28 crore from Corporate Infotech.
Apollo Micro Systems stated that the order from Reliable Technosystems will be completed within four months, while the Corporate Infotech order will be executed in three months. These new contracts have boosted investor confidence, leading to the increase in the stock price.
Apollo Micro Systems Share Performance
Over the past month, the company’s shares have dropped by 12%, and they are down by over 6% since the start of the year. However, the stock has gained nearly 9% in the last six months. Over the past year, the shares have fallen by 8%.
Despite recent declines, the stock has delivered impressive returns over the long term. It has given multibagger returns of 255% in two years and 839% in three years, making it a strong performer in the small-cap space.
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Partnership with Munitions India
Earlier, Apollo Micro Systems signed an agreement with Munitions India, a state-owned company, to work together on developing defence systems for both domestic and international markets. The Memorandum of Understanding (MoU) between the two companies aims to identify and pursue opportunities for designing, developing, and deploying advanced defence technologies.
This partnership highlights Apollo Micro Systems’ growing role in the defence sector and its commitment to contributing to India’s self-reliance in defence technology.
