The brokerage in its note highlighted that the global defence sector has entered a structurally elevated growth phase, driven by persistent geopolitical conflicts
The buying on the counter came after its subsidiary IDL Explosives was granted a running contract (RC) to supply of bulk explosives to the subsidiaries of Coal India
Shares of Apollo Micro rose 3 per cent after it received orders worth ₹100.24 crore for the supply of Unmanned Aerial Systems
Company has received approvals from DRDO)for two distinct Transfers of Technology (ToT) relating to Laser-Based Directed Energy Weapon (DEW) systems and EO Tracking Systems for DEW
The buying interest on the counter came after Apollo Micro Systems received a license for the manufacturing of equipment under the categories of defence aircraft
According to the filing, DRDO gave an order worth ₹5.7 crore and a private company provided an order of ₹21.6 crore
At 10:20 AM; Nifty India Defence index was up 1.5 per cent, as compared to 0.35 per cent rise in Nifty 50 in Friday's trade.
Shares of Apollo Micro Systems hit a new high of ₹341.05, soaring 6 per cent on the BSE in Monday's intra-day trade.