This Quant Fund-Backed Micro Cap Stock Surges 8% After Multiple Order Wins


Shares of Apollo Micro Systems jumped over 8% in early trade on Monday as the company announced bagging several orders.

What Happened: The company on Saturday informed the exchanges that it had been declared the lowest bidder for several orders from the Defence Research and Development Organisation (DRDO) and another government sector company.

The company added that the orders were worth around ₹28.15 crore. “This significant development occurred within the past week,” the exchange filing read.

See Also: Apple’s $40B India Plans, High-Level Exit At X And Other Stories From The Weekend You Don’t Can’t Miss

The company also announced on Saturday that it had signed several important agreements with DRDO. The company signed transfer of technology (ToT) Agreements for Guidance and Navigation Technology, Rotary Electro-Mechanical Actuator, for Weaponisation of Hand-Held Thermal Imager with LRF (WHHTI), and Unified Avionics Computer.

The company had last week announced the incorporation of a subsidiary for its defence business. Apollo Defence Industries Pvt Ltd.

Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

You have successfully subscribed.

Price Action: Shares of Apollo Micro Systems were up 7.43% to trade at ₹57.85 in the early hours of trading on Monday.

Read Next: This Mukul Agrawal Backed Small Cap Stock Jumps On Defence Order Win

Posted In: NewsContractsMoversTrading IdeasApollo Micro Systems