Apollo Micro shares gained 5 per cent after approval was granted to the company to acquire 41.3 per cent stake in Premier Explosives.
Since April, the Nifty India Defence index has zoomed 33 per cent, as against 8 per cent rally in the Nifty 50.
Despite a 3.6% dip in the past two trading days, the Nifty India Defence index has outperformed the market soaring 22% since April 2026.
With record order book of ₹21,200 crore, favourable industry tailwinds, and continued focus on high-value products and global markets, HFCL remains confident of sustaining this growth momentum.
Share price of Apollo Micro Systems hit a new high of ₹368.70, rallied 25 per cent in the past three trading days on the BSE.
Investor sentiment was further supported by the company's announcement of a final dividend of Re 0.25 per equity share of face value ₹1 each for FY26
The Nifty India Defence index hit an intra-day high of 9,093.20, up 1.3 per cent on the NSE in intra-day deals, and was inching towards its 52-week high of 9,159.55 touched on June 24, 2025.
The buying on the counter came after the company received lifetime license to manufacture and proof test defence weapon systems
Apollo Micro Systems shares have delivered a 122 per cent return over the past one year, according to NSE data
The brokerage in its note highlighted that the global defence sector has entered a structurally elevated growth phase, driven by persistent geopolitical conflicts