1:10 Split: At Rs 110, This Defence Stock Hits Upper Circuits After Big Update; BUY For 49% Potential Upside

Apollo Micro Systems share price rallied to touch its 5% upper circuit on July 15, after the company made big ann0uncement on order win. Apollo Micro unlike its peers BEL and HAL, have broadly witnessed bearish tone in 2024 so far. However, there is buying opportunity in Apollo Micro Systems ahead with potential gains of nearly 49% ahead.

Share price of Apollo Micro ended at Rs 109.80 apiece, at its 5% upper circuit with market cap of Rs 3,281.54 crore. Upper circuit means that there were several buyers but no sellers in the stock.

The stock's 52-week high and low is at Rs 161.75 apiece and Rs 52.05 apiece respectively. YTD, the stock is down by over 8.4%.

Apollo Micro Systems s shortlisted keeping in view the capability and was awarded Make II project by the Indian Army. This project is for the procurement of a Vehicle Mounted Counter Swarm Drone System (VMCSDS) (Version I) under the Make II category of DAP-2020.

Also, the project is very prestigious and first Make II project for the Company. The company is happy to share that the systems developed out of it are 'state of the art' and highly futuristic in nature, as per the regulatory filing.

As per Trendlyne data, the consensus recommendation from 1 analyst for Apollo Micro Systems Ltd. is STRONG BUY. EPS is expected to grow by 106.9% in FY25. The 1-year average target price is at Rs 163, which hints at over 48.5% potential upside in the stock compared to CMP.

Apollo Micro Systems (AMS), estd in 1985 is pioneer in Design, Development and assembly of Custom Built Electronics and Electro-mechanical solutions. AMS offer 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. The company's wide spectrum of technological solutions and end to end design, assembly & testing capabilities gives us an edge over the competition.