Apollo Micro Systems shares hit an upper circuit on Thursday after the company provided strong project update with the exchanges. On Wednesday, the defence and aerospace player announced that it has bagged orders worth Rs 43.98 crore. However, the company did not provide more details.
Shares of Apollo Micro Systems jumped 10 per cent in two days following the announcement. The stock rose to Rs 346.5 on Thursday. The scrip hit an upper circuit of 5 per cent during both the sessions. The stock was trading at Rs 331 by 2.30 pm.
Apollo Micro Systems’ shares have delivered mutlibagger returns to the investors in short term. The stock has zoomed more than 220 per cent from its 52-week low at Rs 109.35 hit in March 2022. The counter has surged over 135 per cent in the last six months.
In January 2023, Apollo Micro Systems’ board approved the sub-division or split in a 1:10 ratio. It means that each equity share of the company with a face value of Rs 10 will be divided into 10 equity shares with a face value of Re 1 each.
However, the corporate action is subject to approval from the company’s shareholders and other regulatory or statutory approvals and the record date for the same will be announced soon.
Incorporated in 1997, Apollo Micro Systems is engaged in the business of electronic, electro-mechanical, engineering designs, manufacturing and supply. The company made its Dalal Street debut in January 2018, when the company raised Rs 156 crore by selling its shares for Rs 275 per piece.
The Hyderabad-based company designs, develops and sells high-performance, mission, time critical solutions to defense, space and homeland security for the defence ministry, government-controlled public sector undertakings and private sectors.
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