Apollo Micro Systems Share Price Rises 12%; Wins ₹5.97 Crore Defence Contract Bid

Apollo Micro Systems Limited has seen a significant surge in its share price, rising by 12.07% to ₹118.85 at 2:05 PM on the NSE. The stock opened at ₹106.10 and reached a high of ₹120 during the day, reflecting strong investor confidence.

This marks the first rise after three consecutive sessions of decline, during which the stock had fallen by approximately 12%

Order Win Details 

Apollo Micro Systems has secured orders totalling ₹12.07 crores from a private company and has been selected as the Lowest Bidder for ₹5.97 crores worth of orders from the Ministry of Defence, according to a press release issued on the stock exchanges.

Apollo Micro Systems Signs MoUs for Strategic Partnerships in Defence Sector

Last week, Apollo Micro Systems Limited entered into two significant Memoranda of Understanding (MoUs) aimed at strengthening its position in the defence sector. The first MoU was signed with Troop Comforts Limited for a strategic partnership focused on the joint manufacturing, marketing, and development of advanced Air-Defence systems, including Anti-Drone and Anti-Aircraft solutions.

This collaboration designed to address the current and future needs of various security forces, government organisations, the civil sector, and international markets.

Additionally, Apollo Micro Systems formally exchanged an MoU with Munitions India Limited for the joint development of various defence systems targeting both the domestic and international markets.

The MoU highlights a shared commitment to innovation and leveraging collective expertise to design and deploy advanced defence technologies. This development reinforces Apollo’s ongoing efforts to strengthen its footprint in the defence industry.

Conclusion

Apollo Micro Systems Limited’s recent surge in share price, driven by its successful contract wins and strategic MoUs, reflects the growing investor confidence in the company’s future prospects.

With the addition of significant orders and these strategic collaborations, Apollo Micro Systems is poised to leverage its expertise and innovation to drive growth in the rapidly evolving defence industry.

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