Shares of Apollo Micro Systems gained 4% in afternoon trade on Wednesday, October 29, hitting the day’s high of ₹286.90 apiece after the company secured multiple defence orders. The announcement also helped the stock snap its two-day losing streak.
In an exchange filing today, the company informed investors that it had received cumulative orders worth ₹184.33 million from the DRDO, defence public sector undertakings, and private companies.
The company’s shares have been on investors’ radar in recent months, as its growing order book, strategic partnerships, and improving financials have attracted Dalal Street investors to add the stock to their portfolios.
It has recently strengthened its defence and cybersecurity portfolio through key partnerships and approvals. The company signed MoUs with Sibersentinel Technologies and Zoom Technologies to develop advanced cybersecurity solutions for government agencies and critical infrastructure.
Its subsidiary, Apollo Strategic Technologies Pvt Ltd (ASTPL), partnered with Dynamic Engineering and Design Inc. (USA) for co-development and potential licensed production of BM-21 Grad ER rocket motors, supporting the Make in India initiative. Additionally, it was approved as the production agency for the Multi-Influence Ground Mine (MIGM) “Vighna” and entered a technology transfer agreement with DRDO for the NASM-SR missile warheads.
These initiatives enhance Apollo’s technological self-reliance, expand its defence capabilities, and strengthen its position in high-demand sectors both domestically and globally.
(more to come)