Multibagger defence stock surges over 3% as company secures order worth ₹21 crore from DRDO, Adani & others
- Multibagger stock: Apollo Micro Systems share price gained 3.83 per cent on the BSE today, snapping its four-day losing run, on securing multiple orders from PSUs, Adani, DRDO, Indian Army and Indian Navy.
Multibagger stock: Apollo Micro Systems (AMS) shares rose by over 3 per cent on Monday, November 25 after the company announced securing orders worth ₹4.65 crore from the Defence Research and Development Organization (DRDO) and Adani.
Alongside the confirmed orders, Apollo Micro Systems stated, “The company has been declared the Lowest Bidder for orders worth ₹16.96 crore from DRDO, Public Sector Units, Indian Navy, and Indian Army.”
Following the announcement, Apollo Micro Systems share price gained 3.83 per cent to ₹94.7 apiece on the BSE. With today's rise, Apollo Micro Systems share price snapped its four-day losing streak.
Apollo Micro Systems specialises in technology-driven solutions across sectors such as infrastructure, aerospace, and transportation. Its strong focus on innovation and mission-critical systems has made it a key player in defence and homeland security technologies, catering to the Ministry of Defense, public sector enterprises, and private industry clients.
Financial performance
The company's recent financial results underscore its strong growth trajectory. For the second quarter ended September 2024, Apollo Micro Systems reported a two-fold increase in consolidated profit after tax, reaching ₹16 crore, compared to ₹6.55 crore in the same period last year. Its total income surged to ₹161.30 crore from ₹87.40 crore in the previous fiscal’s corresponding quarter, driven by robust demand for its solutions.
Apollo Micro Systems share price history
Apollo Micro Systems shares have delivered a remarkable performance since their listing on January 22, 2018. Despite recent corrections from the February 2024 high of ₹147.50 to the current ₹94 level, the stock remains significantly elevated compared to its November 2022 price of ₹11. Over the last five years, the stock has delivered an astounding 1,146 per cent return, cementing its reputation as a multibagger for investors.
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