Defence Stock Apollo Micro Systems Surged After FIIs Raise Stake

During the bullish period in the stock market, the shares of Apollo Micro Systems were registering good growth and had reached the level of Rs 134.40. AMSL is a micro-cap company with a market cap of Rs 3,792.08 crore whose shares have a 52-week high of Rs 161.70 and a 52-week low of Rs 24.99.

Shares of Apollo Micro Systems have given a return of 6.13 per cent to investors in the last 5 days while in the last one month, they have given a return of 13.44 per cent. In the last 6 months, the shares of AMSL have given a return of 135.73 per cent to the investors from the level of Rs 56.95.

Earlier this week, the company had announced plans to set up a new manufacturing facility at an investment of Rs 210 crore. The company has said that it intends to manufacture missiles and its sub-systems and also undertake MRO of the weapons at the upcoming facility.

State Bank of India (SBI) approved a grant of Rs 100 crore as a loan to Hyderabad-based aerospace and defence firm Apollo Micro Systems Limited.

Apollo Micro Systems expanded into the design and development of systems and subsystems for electronic hardware and software for DRDO, DPSUs, and others. The Hyderabad-based defence player offers complete platform-level solutions, from the development stage to manufacturing, such as underwater mines, railways, automotive, and homeland security markets.

During Q3FY24, the company reported 53.21% promoters' shareholding, 11.01% FIIs stake, 0.01% DIIs stake and 35.76% public stake. As per the data of Trendlyne, promoters unpledged 5.17% of shares in the last quarter and the total pledge stands at 23.05% of promoter holdings, promoters have increased holdings from 52.67% in the September 2023 quarter to 53.21% in the December 2023 quarter, FII/FPI have increased stake from 5.27% to 11.01% and institutional investors have increased stake from 8.58% in Q2FY24 to 11.02% in Q3FY24.