Defence stock: Apollo Micro Systems share price climbed by 9.3% during Wednesday’s trading session following the receipt of orders totaling ₹12.07 crores from a private firm. Additionally, the company was recognised as the lowest bidder for contracts amounting to ₹5.97 crores from the Ministry of Defence.
The company reported last week, according to the exchange filing, that it secured orders totaling ₹50.97 crores for providing Security Solutions and supplying Defence Products from various private firms.
In a recent filing, the company indicated that its order book is robust and demonstrates considerable demand, placing the company in a favorable position for upcoming growth and stability.
Apollo Micro Systems is a leading company based in Hyderabad that focuses on electronic, electromechanical, and engineering design, along with manufacturing and provision. With a solid commitment to delivering complete End-to-End services, AMS provides design, assembly, and testing solutions specifically customized to fulfill the varied requirements of its clients.
Q3 Results
Apollo Micro Systems reported an 83% increase in its consolidated profit after tax, reaching ₹18.24 crore for the December quarter, driven by rising income.
In the same October-December quarter of the previous fiscal year, the company had recorded a profit after tax (PAT) of ₹9.96 crore, according to a regulatory filing released on Tuesday. The company’s total income rose by 62%, totaling ₹149.37 crore compared to ₹91.84 crore during the same period the previous year.
Apollo Micro Systems share price today
Apollo Micro Systems share price opened at ₹105.30 apiece on the BSE, the stock touched an intraday high of ₹116.20, and an intraday low of ₹105.05 per share.
“Apollo Micro Systems share price witnessed a re-test to its trendline support mark of 103 and sharply rebounded from lower levels owing to the short covering coming in at lower levels on midcap & smallcap stocks. A major support going forward would now be at 100 mark and overhead resistances are looking to be near 125 and 136 odd levels. Technically, we feel that the stock has bottomed out and should head higher towards potential targets,” said Riyank Arora, Technical Analyst, Mehta Equities Ltd.
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 making any investment decisions.
