Apollo Micro Systems Shares Gain 3% Following Order Book Update
Apollo Micro Systems Posts 3 Percent Gain After Update on Defence Orders
Shares of Apollo Micro Systems rose significantly on Friday, following the company's update on its order book across defence and private sector segments. According to an exchange filing, the company's stock settled at Rs 325 per share on the NSE, representing a gain of 3.32 percent.
In its regulatory filing, Apollo Micro Systems revealed that it had secured orders worth Rs 17.48 crore from the Ministry of Defence, Rs 9.53 crore from public sector defence undertakings, and Rs 24.02 crore from private companies. The total value of the orders stood at Rs 51.03 crore.
This update is significant, particularly in the context of the company's recent developments. In April, Apollo Micro Systems received a government licence to manufacture and proof-test defence weapon systems. The licence authorises the company to manufacture systems across two categories of arms with calibre above 12.7 mm at its Hyderabad facilities.
| Segment | Order Value (Rs crore) |
|---|---|
| Ministry of Defence | 17.48 |
| Public Sector Defence Undertakings | 9.53 |
| Private Companies | 24.02 |
| Total Order Value | 51.03 |
Investor Takeaway
Investors should monitor Apollo Micro Systems for potential growth following the update on its order book.
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