208% YTD Gain: Multibagger Defense Stock Declares Strategic Collaboration Plan

Apollo Micro Systems Ltd., a small-cap firm in the aerospace and defense industry, climbed by more than 2.50% during Wednesday's trading session after announcing the appointment of M/s MP3 International as its official Middle East representative and the release of a proposal to set up a new composites manufacturing facility with an INR 50 million investment proposal.

MP3 International is a division of M/s Grade One Group, which is a well-known member of the EDGE GROUP, an Abu Dhabi government-owned company that is the UAE's pioneer in defense products. The military hardware, equipment, pyrotechnics, ammunition, and supplies that GradeOne Group delivers to the army, air force, navy, special forces, law enforcement, and rescue services are its fields of expertise.

Additionally, the Group offers supplies, accessories, and equipment for hunting and sports. "This strategic collaboration is established through a Letter of Authorization, paving the way for enhanced market reach and deeper engagement with clients in the region," said Apollo Micro Systems in a stock exchange filing.

"It is hereby informed that Apollo Micro Systems Limited, a leading company in the Indian Defence sector for electronic manufacturing, hardware designing, weapon integration, and platform integration proposes to establish new Composites manufacturing facility and intends to seek the Board's approval for a substantial investment of INR 50 Million to turn this vision into reality," informed Apollo Micro Systems to stock exchanges.

Apollo Micro Systems, a multibagger stock on Dalal Street, has recently been recommended to buy by Choice Broking. The brokerage firm believes that the company's revenue, EBITDA, and PAT would expand at a CAGR of 38%, 41%, and 68%, respectively, during FY23-26. As a result, it has set a target price of Rs 103 with an 'Outperform' rating.

On Wednesday, the shares of Apollo Micro Systems opened today on the BSE at Rs 92.85 apiece and were trading with an upside gap of 2.87% at Rs 94.16 while writing the copy. The scrip reached a 52-week-high of Rs 96.10 on (01/11/2023) and a 52-week-low of Rs 20.71 on (02/11/2022). The company has produced a multibagger return of 346.45% over the past year, and it has gained 208.04% year to date (YTD) in 2023.