Aerospace & Defense Firm Apollo Micro Systems Bags Order From Bharat Dynamics, Shares Zoom

Small cap company engaged in Aerospace & Defense industry Apollo Micro Systems Ltd shares today surged 1.86% at the time of writing the story to Rs 106.90 per share. The company on August 27, 2024 bagged a new order from Bharat Dynamics Ltd (BDL) worth 10.90 crore. Apollo Micro Systems shares slipped 11.60% in last 1-month and gained 661% in last 2-years. The company's market capitalisation stood at Rs 3,276.37 crore. Check details below:

Apollo Micro Systems Receives New Order From BDL: According to the BSE filing of Apollo Micro Systems dated August 27, 2024, "We are delighted to inform you that the Company has received an order worth Rs. 10.90 Crores from M/s. Bharat Dynamics Limited. This order is for state-of-the-art Software Defined Universal Homing System for Heavy Weight Torpedoes. This first-of-its-kind technology was developed in collaboration with DRDO. The order marks the beginning of production from M/s. Bharat Dynamics Limited, who are nominated agency for the production of the entire torpedo. Our company is the only qualified vendor for this Homing System as on this date. These Heavy Weight Torpedoes will be integrated into Strategic Submarine Programme(s), and we are proud to be part of this significant project."

We are also pleased to announce that we have adapted this technology for Light Weight Torpedoes in collaboration with M/s. Bharat Dynamics Limited, the official production partner for these torpedoes as nominated by DRDO. This next-generation Homing System, with its highly advanced features, is designed to counter complex underwater threats and will be one among the best in the Light Weight category globally, added the exchange filing.

Apollo Micro Systems Stock Performance & Return: The 52-week high price of Apollo Micro Systems share on BSE is quoted at Rs 161.75 per share (as on 20/11/2023) and 52-week low price is quoted at Rs 52.05 per share (as on 06/09/2023), respectively. Apollo Micro Systems shares slipped 21% in last 6-months, fell over 11% year-to-date, offered return of 94% in last 1-year, offered rally of 826% in last 3-years, and gained 1305% in last 5-years.

About: It was established in 1985 and emerged a pioneer in Design, Development and assembly of Custom-Built Electronics and Electro-mechanical solutions. AMS offers solutions based on state of the art technologies for Aerospace, Defense & Space as primary customers and also caters solutions for Railways, Automotive and Home Land Security markets, according to its official website.

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