DIIs bought 26,66,460 Shares: Multibagger Defence Stock Jumps 9.7 Per Cent From Intraday Low; Board To Announce Results Tomorrow
The stock is up by 55 per cent from its 52-week low of Rs 65.28 per share and gave multibagger returns of over 1,400 per cent in 5 years.
On Thursday, shares of Apollo Micro Systems Ltd jumped 9.7 per cent to an intraday high of Rs 101.05 per share from its intraday low of Rs 92.15 per share. The stock’s 52-week high is Rs 161.70 per share and its 52-week low is Rs 65.28 per share.
The Board of Directors of the company is scheduled to be held on Friday, October 25, 2024, at the registered office of the Company situated in Hyderabad. The agenda for the meeting includes but is not limited to, the following items: consideration and approval of the unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2024, and adoption of the limited review reports of the statutory auditors on these financial results.
Apollo Micro Systems Ltd has secured several significant orders in recent months, including a proprietary order worth Rs 28.74 crore from Bharat Electronics Limited and CNA (OF) Pune, Indian Navy. Additionally, the company has been selected by the Armament Research and Development Establishment (ARDE), DRDO, for the Transfer of Technology (ToT) related to the production of PRACHAND Munition Hardware. Apollo Micro Systems has also received orders from Reliable Technosystems India Pvt Ltd (Rs 5.72 crore), Economic Explosives Ltd and ARDE-DRDO (Rs 4.70 crore), Munitions India Ltd (Rs 72.26 crore), Bharat Dynamics Limited (Rs 10.90 crore), and has been awarded a contract to develop Rocket Guided Bombs for Anti-Submarine Warfare (Rs 5.73 crore). These successes highlight the company's expertise in defence electronics and its growing market presence.
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About Apollo Micro Systems Ltd.
Established in 1985, Apollo Micro Systems is at the forefront of creating, constructing, and validating crucial electronics and electro-mechanical solutions for sectors such as aerospace, defence, and space. The company is renowned for its commitment to research and development, resulting in notable projects such as torpedo-homing systems and underwater mines.
According to Quarterly Results, total income increased by 58 per cent to Rs 91.80 crore and profit after tax (PAT) increased by 410 per cent to Rs 8.43 crore in Q1FY25 compared to Q1FY24 while in its annual results, the net sales increased by 24.91 per cent to Rs 371.63 crore and profit after tax (PAT) increased by 66.01 per cent to Rs 31.11 crore in FY24 compared to FY23.
The company falls under the BSE Small-Cap Index with a market cap of Rs 3,065 crore. In September 2024, DIIs took a fresh entry and bought 26,66,460 shares or 0.87 per cent stake in the company. The stock is up by 55 per cent from its 52-week low of Rs 65.28 per share and gave multibagger returns of over 1,400 per cent in 5 years. Investors should keep an eye on this aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.