Multibagger defence stock Apollo Micro Systems hits life-time high. Choice Broking sees more upside | Mint
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Business News/ Markets / Stock Markets/  Multibagger defence stock Apollo Micro Systems hits life-time high. Choice Broking sees more upside
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Multibagger defence stock Apollo Micro Systems hits life-time high. Choice Broking sees more upside

Apollo Micro Systems shares have been in an uptrend for the last one year. This multibagger stock has delivered returns to the tune of 525 percent in the last 12 months.

The defence stock was locked in the 10 percent upper circuit during early morning stock market deals on Thursday. (Reuters)Premium
The defence stock was locked in the 10 percent upper circuit during early morning stock market deals on Thursday. (Reuters)

Stock market today: Apollo Micro Systems' share price on Thursday opened higher at 140 per share on the NSE and went on to hit a new life-time high of 146.70 per share. The jump in the stock comes on the back of positive outlook, as highlighted by brokerages after its quarterly earnings.

The company reported a 300 percent YoY rise in the consolidated net profit to 6.56 crore for the September quarter. Its revenue from operations surged more than 55 percent YoY to 87.16 crore.

The defence stock was locked in the 10 percent upper circuit during early morning stock market deals on Thursday. 

Choice Broking, in its report released on Thursday,  has assigned an ‘Outperform’ rating to the stock with a revised target price of 163 apiece, indicating a sharp upside from the current market price.

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“We are confident about the growth story of the Apollo Micro Systems, due to its position (involvement in various strategic missiles from MoD and BDL) and it faces very less competition. We have a positive outlook on AMSL, supported by 1) Sole supplier of underwater mines, 2) Favourable Government policies on self reliance on defence sector, 3) Rising defence spending across all segment (Naval, Army, Air Force), 4) Massive upcoming big ticket projects, 5) The company’s healthy order pipeline…," it said.

Apollo Micro Systems shares have been in an uptrend for the last one year. This multibagger stock has delivered returns to the tune of 525 percent in the last 12 months.

“We expect AMS Revenue /EBIDTA/PAT to grow at 41/44/74% over FY23-26. We value the stock based on 50x of FY26E EPS (with PEG ratio 0.7x during same period) to arrive at the TP of 163 with “OUTPERFORM" rating," said Choice.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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ABOUT THE AUTHOR
Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
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Published: 16 Nov 2023, 01:28 PM IST
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