Over 130% Gain YTD: Multibagger Defense Stock Spurts Over 14% To Hit 52W-High

Apollo Micro Systems a small cap company in the defense sector opened today in the BSE at Rs 66.86 apiece and rallied 14.34% intraday to make a fresh 52-week-high at Rs 76.45. Over 21.85 lakh shares were traded today, according to BSE statistics, and the stock was trading at Rs 72.40 per share with an upside gap of 8.58% as of the time of writing. Apollo Micro Systems is also one of the multibagger stocks that Dalal Street has produced in recent times.

Apollo Micro Systems News

A wholly owned subsidiary of the company, Apollo Defence Industries Limited, has recently been established in order to concentrate on developing alliances and technological collaborations with various overseas businesses in order to provide cutting-edge defence solutions and serve the nation. This is done in order to develop groundbreaking technologies and create a comprehensive defence ecosystem.The company and the Defence Research and Development Organisation (DRDO) have recently entered into multiple Transfer of Technology (ToT) agreements.

The firm also revealed that it has established a cutting-edge defence equipment production plant in Hardware Park, Hyderabad, during the first week of the current month. The company stated that around Rs 150 crores would be invested overall in the upcoming projects. The planned new units will house a defence electronics and electro-mechanical manufacturing facility equipped to handle bulk production, adding 3,00,000 square feet to the existing infrastructure.

Apollo Micro Systems Share Price History

The stock price soared from Rs. 11.24 to the current market price during the past five years, which led to a multibagger return of 524%. The stock price soared from Rs 10.92 to the current market price during the past three years, which brought about a multibagger return of 537%.

The shares of Apollo Micro Systems went up from Rs 23.12 to the current market price during the past year, giving rise to a multibagger return of 210%. The stock jumped from Rs 30.57 to the current market price on a year-to-date basis, posting a multibagger return of 138% so far in 2023. The stock has produced a multibagger return of 128% over the past six months and 30% over the past month.