Apollo Micro Systems Share Price Rises After MSCI Small Cap Index Inclusion; Should You Buy? Check TP

Apollo Micro Systems Ltd shares gained on Thursday, November 12, as the defence electronics company is set to join the MSCI India Small Cap Index as part of the index provider's November 2026 review. The index change is scheduled to take effect at the close of trading on November 30, 2026.

Apollo Micro Systems Share Price Today

Apollo Micro Systems shares were trading at Rs 442.55 on Thursday, November 12, up 2.55% at around 2:09 pm IST. The stock opened at Rs 461.15 and touched an intraday high of Rs 464.00 before declining to an intraday low of Rs 441.25.

Apollo Micro Systems Added To MSCI India Small Cap Index

Apollo Micro Systems has been included in the MSCI India Small Cap Index as part of MSCI's November 2026 review. The change will take effect at the close of trading on November 30.

MSCI indexes are widely used as benchmarks by investment funds. Some passive funds seek to replicate these indexes, while active fund managers use them to measure portfolio performance and guide investment decisions. When a stock is added to an index, funds tracking that benchmark may need to buy shares to reflect the revised composition.

Apollo Micro Systems is among 11 Indian companies added in the latest review. Other additions include PI Industries, HUDCO, Shadowfax Technologies and E2E Networks.

According to estimates from Nuvama cited in the supplied information, the 11 additions could collectively attract passive inflows of around $95 million. Apollo Micro Systems' estimated share of those inflows is approximately $8 million to $10 million, equivalent to around Rs 84 crore.

These are estimates rather than confirmed investment commitments. Actual buying will depend on fund holdings, index-tracking requirements and market conditions. Beyond potential passive inflows around the effective date, index membership may improve the company's visibility among institutional investors and global portfolio managers.

Apollo Micro Systems Q2 Results: Net Profit Jumps 54%, Revenue Rises 72%

Apollo Micro Systems reported revenue of Rs 388 crore for the quarter ended September 30, 2026, marking a 72% increase from Rs 225 crore in the corresponding quarter last year. The company said this was its highest-ever revenue for a September quarter.

Net profit rose 54% year-on-year to Rs 46 crore, compared with Rs 30 crore in Q2 FY26. EBITDA increased 88% to Rs 111 crore, while the EBITDA margin improved to 28.6% from 26.3% a year earlier.

Should You Buy or Hold Apollo Micro Systems Stock? Check ICICI Direct's Target

ICICI Direct has set a target price of Rs 485 for Apollo Micro Systems shares, indicating further upside potential from the stock's current trading levels. At Rs 447.60, the target suggests a potential gain of around 8.4%, while at Rs 452.05, the implied upside stands at approximately 7.3%.

The brokerage's target comes as Apollo Micro Systems draws investor attention following its strong quarterly performance and inclusion in the MSCI India Small Cap Index.

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