The stock opened in green at Rs 115 on the BSE against the previous close of Rs 112.65. It gained further to touch the high of Rs 119 – a gain of 5.6 per cent from the previous close.
Mumbai: Shares of aerospace and defence company Apollo Micro Systems Ltd (AMSL) are in action as the company has informed exchanges that it has received an order from the Defence Research and Development Organisation (DRDO), Public Sector Undertaking (PSU) and a private company. Additionally, it has also been declared the lowest bidder for orders worth Rs 11.48 crore from DRDO and a PSU.
“The company, in the ordinary course of its business, has received orders worth Rs. 7.52 crores from DRDO, Public Sector Undertaking (PSU) and a private company and has also been declared the Lowest Bidder for orders worth Rs. 11.48 crores from DRDO & PSU,” the filing reads.
The stock opened in green at Rs 115 on the BSE against the previous close of Rs 112.65. It gained further to touch the high of Rs 119 – a gain of 5.6 per cent from the previous close. While writing this report, the stock was trading with a gain of 4.57 per cent at Rs 117.80.
The 52-week high of the scrip is Rs 157, and the 52-week low is Rs 88.10. The market of the defence company is Rs 3,619.64.
Earlier, the company signed an agreement with state-owned Munitions India to develop defence systems in the domestic and international markets.
As part of the Memorandum of Understanding (MoU), both entities will identify and pursue opportunities for the design, development, and deployment of advanced defence technologies, Hyderabad-based AMSL said in a regulatory filing.
AMSL has also inked a pact with Troop Comforts for joint manufacturing, marketing, and development of advanced air-defence systems, including anti-drone and anti-aircraft solutions.
This collaboration will help meet the current and future demands of Indian defence forces, paramilitary forces, police organisations, central government organisations, state government organisations, the civil sector, and the export markets.
AMSL offers technology-based solutions in sectors such as infrastructure, transportation, aerospace and defence, among others.
