Shares of Apollo Micro Systems, a leading technology-driven firm in the aerospace, defence, and homeland security sectors, traded in green on Wednesday even as benchmark equity indices Sensex and Nifty tumbled in early trade, tracking a bearish trend in Asian markets, as the conflict in West Asia widened, driving oil prices higher. The stock opened in the red at Rs 213.95 against the previous close of Rs 214.15 on the BSE. It later fell further to touch the intraday low of Rs 202.5, a drop of 5.44 per cent from the last closing price. However, it rebounded to touch the high of Rs 217.35, representing a gain of 1.49 per cent.
Secures Rs 73.33 crore defence orders
The action in the stock comes as the company has informed exchanges that it has received significant orders from defence and government entities, as well as private sector companies. The total value of the order received by the company is Rs 73.33 crore. Out of this, the company received an order worth Rs 15 crore from the Defence Research & Development Organisation (DRDO).
“The orders include critical Homing systems for Heavy Weight Torpedoes, Fire Control Systems, Launchers for Strategic Missile Programmes, other Avionic LRU’s for Missile and other Platforms, Cyber Security Systems for Intelligence Department,” the company said in an exchange filing.
Share price history
Technically, the stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
The stock’s 14-day relative strength index (RSI) is 35.71. For the uninitiated, a level above 70 is considered overbought or overvalued, and below 30 is defined as oversold or undervalued.
According to BSE Analytics, the stock has given a multibagger return of 1,751 per cent in five years and 568.39 per cent in three years. While it has gained 90.38 per cent in one year, it has corrected 22.86 per cent on a year-to-date (YTD) basis.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
