Multibagger defence stock rebounds 6% from intraday low on multiple orders
Stock market today: Apollo Micro Systems shares are one of the multibagger stocks that Indian stock market has delivered this year. In YTD time, this defence stock has risen from around ₹30.55 to ₹121 apiece levels, logging near 300 per cent rise in this time. Apollo Micro Systems today opend upside but soon came under the sell off heat and touched intraday low of ₹117.10 per share on NSE. However, the multibagger defence stock bounced back strongly and touched intraday high of ₹121 apiece, logging near 6 per cent rise against its today’s low.
Apollo Micro Systems news
On Tuesday, Apollo Micro Systems Ltd informed Indian stock market exchanges about receiving multiple defence orders worth ₹20.76 crores from Ministry of Defence and ₹15.82 crore from a private company. After the outbreak of this stock market news, this multibagger defence stock caught attention of Dalal Street bulls, which helped Apollo Micro Systems shares to pare its intraday loss after profit booking trigger during morning deals.
Also Read: IndiGo share price gains for 12 straight days, its longest winning streak
Informing about the defence orders, Apollo Micro Systems Ltd said, “We are pleased to inform you, in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, that Apollo Micro Systems Limited has recently secured multiple orders amounting to ₹20.76 crores from Ministry of Defence. These orders comprise both confirmed orders received and Lowest Bid tenders for which the company has been declared as the Lowest Bidder, highlighting the company’s ongoing engagements in the defense sector. Furthermore, the company has also successfully secured orders valued at ₹15.82 crores from a private company.”
Apollo Micro Systems share price history
Apollo Micro Systems shares have remained under base building mode after hitting life-time high of ₹161.70 per share levels on 17th November 2023. However, despite remaining under base building mode for the last one year, this defence stock has delivered around 300 per cent return in YTD time. In last one year, Apollo Micro Systems share price has ascended from around ₹27.70 to ₹121 apiece levels, logging near 335 per cent rise in this time. In last six months, this multibagger defence stock has risen to the tune of 215 per cent.
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.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it’s all here, just a click away! Login Now!
Download The Mint News App to get Daily Market Updates.
Published: 13 Dec 2023, 03:00 PM IST
