This small-cap defence stock has surged 48% in 10 days; more steam left?

Apollo Micro Systems share price: The Board of Directors of Apollo Micro Systems is scheduled to meet on Thursday, January 9, 2025, to consider the issue of equity shares and/or convertible securities

Apollo Microsystems, defence shares to buy: Apollo Micro Systems share price was ruling higher in trade on Tuesday, January 7, 2025. The stock surged 7.2 per cent on the BSE today, hitting an intraday high of Rs 138.

 

Including today’s gains, Apollo Micro Systems share price has zoomed 47.5 per cent over the past 10 sessions. By comparison, the benchmark BSE Sensex has dipped 0.1 per cent during the period.

 

On technical charts, the stock has broken above the Bollinger bands on the daily and weekly charts. The stock’s next resistance is at Rs 150 level – its upper end of the Bollinger band on the monthly chart. That said, it is trading in the ‘overbought’ zone on daily, weekly, and monthly charts, indicating some pullback.

 

 

Apollo Micro Systems stock may find support around Rs 135, Rs 126 levels.

 

At 12:40 PM, Apollo Micro Systems share was trading 5.5 per cent higher as against 0.3 per cent rise in the 30-share Sensex index.

 

Meanwhile, the Board of Directors of Apollo Micro Systems is scheduled to meet on Thursday, January 9, 2025, to consider the issue of equity shares and/or convertible securities.

 

"The Board of Directors of the company is scheduled to be held on Thursday, January 9th, 2025, interalia to consider the issue of equity shares and/or convertible securities including warrants on preferential basis, including determination of issue price," the company said in a stock exchange filing on January 4, 2025.

 

Apollo Micro Systems (AMS) is engaged in the Design, Development and assembly of custom-built electronics and electro-mechanical solutions. AMS offer solutions based on state-of-the-art technologies for Aerospace, Defence and Space. Its addressable industries include Railways, Automotive, and Home Land Security.

Apollo Micro Systems share price history

Apollo Micro Systems debuted on the stock exchanges in 2018. The stock hit a record high of Rs 161.75 per share on November 20, 2023, and a record low of Rs 4 on March 25, 2020.

 

Apollo Micro Systems share’s 52-week high stands at Rs 147.5 per share, which it hit on February 27, 2024. The stock’s 52-week low is Rs 88.10, which it hit on October 23, 2024.

 

In calendar year 2024, Apollo Micro Systems share price added just 1 per cent on the bourses, as against an over 8 per cent rally in the benchmark Sensex and Nifty indices.

 

Over the past three months, however, Apollo Micro Systems share price has surged 26.5 per cent as against a 5 per cent decline in the Sensex index.

Apollo Micro Systems share price news

 

Apollo Micro Systems has bagged a string of orders recently.

 

On December 24, 2024, Apollo Micro Systems said the company has received an order worth Rs 6.14 crore from Defence Research and Development Organisation (DRDO).

 

Earlier, on December 3, 2024, the company said it has been declared as the Lowest Bidder for orders worth Rs 21.42 crore from Bharat Electronics Limited (BEL) and a private company.

 

On November 22, 2024, Apollo Micro said it has received orders from Defence Research and Development Organization (DRDO) and Adani worth Rs 4.65 crore.

 

"We are also pleased to inform you that the company has been declared as the Lowest Bidder for orders worth Rs 16.96 crore from DRDO, Public Sector Units, Indian Navy, and Indian Army," it had said.