Earlier, the company announced the completion of its preferential allotment of equity shares and convertible warrants, raising a total of over Rs 416 crore.
Shares of Apollo Micro Systems Ltd (AMSL), a defence and aerospace company, are in focus as the company has shared two significant developments in its latest exchange filing. According to the information shared, the company has been declared the lowest bidder for a project by the Defence Research and Development Organisation (DRDO) worth Rs 4.3 crore. Moreover, the company has been declared as the lowest bidder for orders worth Rs 34.97 crore by a defence Public Sector Undertakings (PSU). In total, the company has emerged as the lowest bidder for projects worth Rs 39.27 crore.
Share Price Today
At 12:10 pm, the stock was trading at Rs 292.25, up Rs 1.05 or 0.36 per cent on the BSE. On the National Stock Exchange (NSE), it was trading at Rs 292.05, up 0.31 per cent or Rs 0.90. The company has a market cap of Rs 9,712.47 crore.
This defence stock has delivered a multibagger return of 144.95 per cent in six months. Meanwhile, the stock fell 12 per cent in the past week and 15 per cent in the past month. However, it has gained over 62 per cent in the past three months.
On an annual basis, the stock has gained over 191 per cent in the past year, over 1134 per cent in the past three years, and over 2569 per cent in the past five years.
Earlier, the company announced the completion of its preferential allotment of equity shares and convertible warrants, raising a total of over Rs 416 crore.
The allotments were made to the promoter group, Non-Executive Director Aditya Kumar Halwasiya and LIC Mutual Fund.
Signs agreement with state-owned Munitions India
Meanwhile, the company has signed an agreement with state-owned Munitions India to develop defence systems in the domestic and international markets jointly.
As part of the Memorandum of Understanding (MoU), both entities will identify and pursue opportunities for the design, development, and deployment of advanced defence technologies, Hyderabad-based AMSL said in a regulatory filing.
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
