Home / Markets / Stock Markets /  Multibagger stock makes fresh 52-week-high as Board announces 1:10 stock split

With a market worth of 751.03 Cr, Apollo Micro Systems Ltd. is a small-cap company that operates in the industrial sector. As its primary clientele, is the aerospace, defence, and space industries, the company provide design, development, and solutions in addition to serving the railways, automotive, and homeland security sectors. In their meeting conducted today, on Saturday, January 21, 2023, the company's board of directors declared a 1:10 stock split, which might trigger price action to be watched in the next week by market observers.

The company said in a stock exchange filing that “This is to inform you that Board of Directors of the company, in their meeting held today i.e., Saturday, 21st January 2023 at the registered office of the Company have considered and approved, inter alia, the following items together with other agenda items: 1. Appointed Dr. Chandrashekar Matham (DIN: 09844975) as the Additional Director of the Company, in the capacity of Independent Director, with effect from 21st January 2023. 2. Appointed Mr. Aditya Kumar Halwasiya (DIN: 08200117) as the Additional Director of the Company, in the capacity of Non Executive Non Independent Director, with effect from 21st January 2023. 3. Re-appointed Mrs. Karunasree Samudrala as the Independent Director the Company for the Second Term of 5 years from of 29th May 2023 to 28th May 2028, subject to the approval of the share holders. 4. Approved the Sub-Division/ Split of 1 (One) Equity Share of face value of Rs. 10/- (Rupees Ten Only) fully paid up into 10 (Ten) Equity Shares of Rs. 1/- (Rupee One Only) each fully paid up, subject to the approval of the Members of the Company and regulatory/statutory approvals as may be required. The record date for the subdivision of equity shares shall be decided by the Board and will be intimated to the exchanges."

Behind the rationale behind the split, the Board of Directors cited the reason as to enhance the liquidity in the capital market, to widen shareholder base and to make the shares more affordable to small investors, on the stock exchanges.

The Board of Directors of Apollo Micro Systems also announced today by saying that “we are pleased to inform that Company has got provisional allotment of land measuring 10118 Sq. Mts for setting up of Electronic industry on Out Right Sale (ORS) basis at TSIIC_HARDWARE_PARK PH-II situated in Rangareddy, District, Telangana (near to Shamshabad International Airport, Hyderabad) by Telangana State Industrial Infrastructure Corporation Limited (A Government of Telangana undertaking)."

The shares of Apollo Micro Systems made a fresh 52-week-high of 368.00 apiece on Friday and then closed at 360 which is an upside gap of 0.40% from the previous close of 358.55. The stock recorded a total volume of 426,961 shares compared to the 20-Day average volume of 304,744 shares. The share value has risen from 144.85 to the current market price during the last year, resulting in a multibagger return of 148.53%, and so far this year, it has appreciated 17.78% on a YTD basis.

The stock price climbed from 136 in July 2022 to the current market price over the past six months, resulting in a multibagger return of 164.71%. The stock has appreciated by 39.86% over the past month and by 3.46% over the last five trading sessions. The stock had touched a 52-week-low of 109.20 on (12-May-2022), indicating that after hitting a fresh 1-year high on Friday, the stock was seen trading 229.67% above the 1-year low. For the quarter ended December 2022, the company reported a promoter shareholding of 59.10%, FIIs stake of 0.65%, DIIs stake of 2.63%, and a public stake of 37.63%.

Based on the technical outlook of the stock “Apollo Micro System is witnessing value buying from lower levels and shown a strong recovery and trading near its 52 week high. The stock has delivered around 135 percent over the period of 1 year. On technical setup, the stock is showing strength on daily and weekly chart pattern and momentum indicators are suggesting a good move ahead. The counter may touch the levels of 450," said Ravi Singhal, CEO, GCL.

Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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