Apollo Micro shares zoom 20% on orders worth Rs 50 crore from BEL

The Company bagged a supply order from Bharat Electronics worth Rs 49.86 crore with a repeat order clause, for maximum of 120 per cent of the units originally ordered

Shares of Apollo Micro Systems zoomed 20 per cent to Rs 155.55, also its 52-week high, on the BSE on Monday after the company bagged a supply order worth of Rs 50 crore from Bharat Electronics (BEL).

“The Company has bagged a supply order from BEL, a defence public sector undertaking (PSU) worth Rs 49.86 crore with a repeat order clause, for maximum of 120 per cent of the units originally ordered, according to BEL terms and conditions,” Apollo Micro Systems said in a regulatory filing.

Apollo Micro Systems operates in electromechanical components and systems and allied components