Apollo Micro Systems Hits 5% Upper Circuit, Up 100% In 1 Month: More Steam Left?

On Thursday, the shares of Apollo Micro Systems IAMS) closed on the 5% upper circuit limit of Rs 138.69 apiece. The stock recently made a fresh 52-week-high of Rs 161.75 on (20/11/2023) whereas the 52-week-low was reached at Rs 23.27 on (26/12/2022) which means that the stock has gained 496% from its 1-year low.

Apollo Micro Systems Share Price History

The stock price went up from Rs 12.59 to the current market price during the previous five years, resulting in a multibagger return of 1,001.59%. The stock price climbed from Rs 11.42 to the current market price during the previous three years, resulting in a multibagger return of 1,106%. The stock price jumped from Rs 24.73 to the current market price in 1 year, yielding a 460.82% multibagger return. On a YTD basis, the stock price has risen from Rs 30.58 to the current market price logging in a multibagger return of 353.53% so far in 2023. The stock price climbed from Rs 33.95 to the current market price during the previous six months, resulting in a multibagger return of 308.51%; in just one month, it surged from Rs 69.05 to the current market price, resulting in a multibagger return of 100.85%.

Apollo Micro Systems Financials

During the September quarter, the firm reported that its standalone net profit doubled to Rs 7 crore. At the same time last year, the company reported a net profit of Rs 3.28 crore, according to a regulatory filing. In Q2FY24, the company's total income climbed to Rs 87.57 crore from Rs 52.39 crore in Q2FY23. AMSL incurred expenses of Rs 78.68 crore during the quarter under review as opposed to Rs 47.47 crore during the same period last year.

Apollo Micro Systems Share Price Target

After the Q2FY24 results were released, Choice Broking, a brokerage firm, set an outperform rating on AMS. With a target price (TP) of Rs 163, the stock could go up by approximately 17.52% over its current market price. "We expect AMS Revenue /EBIDTA/PAT to grow at 41/44/74% over FY23-26. We value the stock based on 50x of FY26E EPS (with PEG ratio 0.7x during same period) to arrive at the TP of 163 with "OUTPERFORM" rating," said the brokerage in a report.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.