Multibagger defence stock Apollo Micro Systems jumps 7% despite stock market sell-off

Apollo Micro Systems share price surged more than 7% on Monday, 29 June, despite stock market sell-off after reports indicated that its key customer, Bharat Electronics Ltd (BEL), is likely to secure a ₹30,000-crore order under the Quick Reaction Surface-to-Air Missile (QRSAM) programme.

The rally followed a CNBC-TV18 report, citing BEL management's interaction with Kotak Securities, which said the proposed QRSAM order is expected to receive government approval in the coming weeks. According to the report, BEL management anticipates that the contract will be awarded within the next few weeks.

Apollo Micro Systems is a key supplier to both BEL and Bharat Dynamics Ltd (BDL) for the QRSAM programme. The indigenously developed Quick Reaction Surface-to-Air Missile (QRSAM) system is designed to detect, track and neutralise highly manoeuvrable aerial threats.

Separately, Apollo Micro Systems informed stock exchanges that its Board of Directors will meet on 6 July 2026to consider a proposal to raise funds through the issuance of equity shares and/or convertible securities, including warrants, on a preferential basis, in accordance with the SEBI (ICDR) Regulations, 2018.

The board will also consider the issue price and other terms of the proposed fundraising, subject to the necessary regulatory and shareholder approvals.

Apollo Micro Systems share price today

Apollo Micro Systems share price today opened at ₹385.85 apiece on the BSE, the stock touched an intraday high of ₹411.70, and an intraday low of ₹380.65 per share.

Apollo Micro Systems shares have delivered strong returns over the medium term despite recent volatility. The stock has gained nearly 48% year-to-date, while rising 55% over the past six months and more than 111% over the last one year. However, profit-booking has weighed on the stock in the near term, with shares declining around 4% over the past week and remaining largely flat over the last month.

From a technical perspective, Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, believes Apollo Micro Systems has seen a strong rebound, supported by above-average trading volumes.

According to Bhosale, the stock has bounced off its previous swing low and retraced a significant portion of its recent decline, indicating improving momentum. He said the technical outlook remains positive as long as the stock holds above the ₹380 support level.

On the upside, Bhosale identified the ₹450 zone, where the stock had previously formed a double-top pattern, as the immediate resistance. He added that ₹380-450 has remained the stock's key trading range over the past couple of months, and a decisive breakout above this band would be needed to trigger the next meaningful uptrend.

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