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.
At 10:32 AM; Nifty India Defence index was up 2.6 per cent, as compared to 0.28 per cent rise in Nifty 50.
At 12:00 PM, the BSE Smallcap index, the top gainer among broader indices, was up 0.89 per cent, as compared to a marginal 0.06 per cent gain in the BSE Sensex.
Apollo Micro Systems shares have surged 23.20 per cent in the last 3 trading sessions, according to NSE data
Apollo Micro Systems shares hit a record high, surging nearly 5 per cent on Monday after securing two DRDO contracts
Shares of Apollo Micro Systems soared 12% to ₹271.60 on the BSE in intra-day trade, and have zoomed up to 56% thus far in the month of August.
The average trading volumes on the counter jumped nearly four-fold with a combined 48.46 million equity shares representing 14.52% of total equity of Apollo Micro changed hands on the NSE and BSE.
Thus far in the month of August, the stock price of the smallcap aerospace & defence company has rallied 35%, surpassed its previous high of ₹221.40