Defense company gets orders worth Rs 77 billion
Business Business: Shares of aerospace and defense company Apollo Micro Systems rose sharply on Monday. The smallcap stock closed over 4 per cent higher at Rs 111.60 on Monday. This increase in the stock price of Apollo Micro Systems is due to the company getting a lot of orders. The defense contractor received orders worth Rs 7,700 crore. The highest share price of Apollo Micro Systems in the last 52 weeks was Rs 161.75. Meanwhile, the company’s 52-week low is Rs 53.50.
Apollo Micro Systems said in a stock exchange filing, “The company has received orders from Economic Explosives Limited and ARDE-DRDO.” The contract is worth Rs 4700 crore. However, the company has not given any information about the project. Apollo Microsystems said in the same filing that the lowest bid (L1) was announced for the GNC kit. The company has raised capital of Rs 7,226 crore for this project.
The share price of Apollo Microsystems has risen more than 620% in the last two years. The company’s share price was Rs 15.49 on September 16, 2022. The share price of Apollo Micro Systems reached Rs 111.60 on September 16, 2024. At the same time, the company’s shares have doubled the investors’ money over the past year. Apollo Micro Systems stock has risen nearly 100% in the last year. The company’s stock touched a high of Rs 55.85 on September 18, 2023 and closed at over Rs 111 on September 16, 2024. In the last five years, the share price of Apollo Microsystems has risen 1,216 percent. This company was founded in 1985. Apollo Micro Systems is a leading electronics and electromechanical company.
