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 and services. The company designs develops and sells high-performance mission and time critical solutions to defence Space and home land security for Ministry of Defence government controlled public sector undertakings and private sectors. The company's customised solutions are developed using common hardware and software technology IP's which can be re-configured to suit the end application and domain requirements of end customer.
At 01:14 pm, the stock was trading 16 per cent higher at Rs 151 on the BSE, as compared to 0.74 per cent rise in the S&P BSE Sensex. The counter has seen an over 20-fold jump in trading volumes with a combined 5.36 million equity shares changing hands on the NSE and BSE, so far.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.