According to the company, this collaboration aims to meet the current and emerging operational needs of the armed forces through indigenous research and development (R&D).
Shares of Hyderabad-based Apollo Micro Systems Ltd (AMSL) are in focus as the company has announced a tri-party collaboration with IIT-Chennai and the Indian Navy to accelerate the development of indigenous defence technology. The stock opened in the green at Rs 273.10 against the previous close of Rs 272.80 on the BSE. It gained further to touch the high of Rs 277.20, representing a gain of 1.61 per cent. However, the stock tumbled amid profit booking and touched a low of Rs 270. Last seen, the counter was trading at Rs 271.20 with a dip of 0.59 per cent. The market cap of the company stood at Rs 9,045.40 crore.
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 1 (ST ASM-1) framework.
To accelerate the development of indigenous defence technology
According to the company, the aim is to meet the current and emerging operational needs of the armed forces through indigenous research and development (R&D). The collaboration will work on high-tech areas essential for modern warfare.
This includes critical areas such as advanced electronic warfare systems, precision guidance and control systems, and high-energy weapon technology. It will not be limited to these technologies alone, but will also work in more advanced areas as needed.
The projects completed under this MoU will strengthen the Indian Ministry of Defence’s goal of achieving self-reliance in defence technology. Its success will further enhance India’s reputation as a strong defense manufacturing hub.
Share Price History
According to BSE Analytics, the stock has delivered a multibagger return of 2,271 per cent in five years and 1,002 per cent in three years. While it has gained 188 per cent in one year, the counter has surged 125 per cent on a year-to-date basis.
However, the stock has corrected 6.55 per cent in one month as compared to a positive return of 1.60 per cent by the benchmark index in the same period.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
