Back-to-back upper circuit and 52-week high: This multibagger aerospace & defence stock matches Mohammed Shami's record-breaking performance at ICC World Cup!
The stock gave multibagger returns of 530 per cent in just 1 year whereas the BSE small-cap Index is up by 36.5 per cent.
On November 15, 2023, Mohammed Shami, a renowned Indian cricketer, etched his name in the annals of sporting history by becoming the first Indian bowler to claim 7 wickets in an ODI cricket match. This remarkable feat occurred during India's semi-final clash against New Zealand in the ICC ODI World Cup 2023. Shami's stellar performance not only propelled India into the finals of the tournament but also sent shockwaves through the stock market, causing a surge in the Sensex and Nifty indices for the second straight day.
The Sensex, India's benchmark equity index, witnessed a significant rise of 0.69 per cent following Shami's record-breaking performance. Along with the market in green, this multibagger aerospace & defence stock was trending today.
The stock name is Apollo Micro Systems Ltd.
Today, shares of this company hit 10 per cent upper circuit to Rs 146.72 per share from its previous closing of Rs 133.39. The stock also made a new all-time high & 52-week high of Rs 146.72 per share with a spurt in volume by more than 2.3 times on BSE. In the recent trading sessions, the stock has been hitting back-to-back upper circuits and 52-week highs.
Apollo Micro Systems Ltd, a leading provider of electronic and electromechanical solutions, has announced strong Quarterly Results and half-yearly results for the fiscal year 2024.
In the second quarter of FY24, net sales increased by 54.9 per cent to Rs 87.16 crore, operating profit increased by 85.5 per cent to Rs 18.61 crore, and net profit increased by 300.6 per cent to Rs 6.56 crore. For the first half of FY24, net sales increased by 33.7 per cent to Rs 144.85 crore, operating profit increased by 41.3 per cent to Rs 31.58 crore, and net profit increased by 66.7 per cent to Rs 8.21 crore. These results are a testament to the company's strong performance and its ability to capitalize on growth opportunities in the market.
Previously, Apollo Micro Systems Limited (AMS) has been appointed by MP3 International, a subsidiary of Grade One Group, as its official representative for the Middle East market. This collaboration will enhance AMS's market reach and engagement with clients in the region. AMS also plans to set up a new composites manufacturing facility in Hyderabad, requiring an investment of Rs 5,00,00,000. The company is also expanding its defence business by setting up a new manufacturing facility and forming a new subsidiary to focus on international partnerships.
The management expects revenue to grow by 45 per cent to 50 per cent from FY23 to FY24, owing to a robust order book and expected key projects. The company has bagged multiple orders in the current financial year from the Defence Research and Development Organisation (DRDO).
The company falls under the BSE Small-Cap Index with a market cap of over Rs 3,800 per cent. The stock gave multibagger returns of 530 per cent in just 1 year whereas the BSE small-cap Index is up by 36.5 per cent. Do you own Apollo Micro Systems Ltd.’s stock in your portfolio? Do let us know in the comments below
Disclaimer: The article is for informational purposes only and not investment advice.
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