The shares of Defence stock, specializing in the design, development, assembly, and testing of electronic and electro-mechanical solutions, jumped up to 5 percent upon entering into a Consortium Agreement with Redon Systems Pvt Ltd for a manufacturing partnership.
Price action
With a market capitalization of Rs. 3,929.2 crores on Thursday, the shares of Apollo Micro Systems Ltd rose upto 5 percent making a high of Rs. 134.90 per share compared to its previous closing price of Rs. 128.20 per share.
What Happened
Apollo Micro Systems Ltd specializing in the design, development, assembly, and testing of electronic and electro-mechanical solutions has entered into a Consortium Agreement with Redon Systems Pvt Ltd. to collaborate on a manufacturing partnership. The objective of this agreement is to leverage the combined manufacturing capabilities for the procurement of Containerized Automatic Landing Module systems.
Apollo and Redon together through this Consortium Agreement would jointly manufacture systems for Loitering Munition and Allied Systems. Redon Systems Pvt Ltd is into the design and manufacturing of Loitering Munition having successfully demonstrated its products to the Indian Armed Forces.
Also read…..
About the Company
Apollo Micro Systems Ltd is a leading Indian technology company that offers solutions in sectors such as defense, aerospace, and industrial automation. The company provides a wide range of products including embedded systems, radar systems, and satellite communication equipment.
Marquee clients
The company largely collaborates with the Ministry of Defence, government-controlled public-sector undertakings, and private-sector clients like Bharat Dynamics Ltd, Hindustan Aeronautics Ltd, Bharat Electronics Ltd, L&T, Adani and Kalyan Bharat Forge.
Financials
The company’s revenue rose by 62.6 percent from Rs. 91.84 crore to Rs. 149.37 crore in Q3FY24-25. Meanwhile, Net profit rose from Rs. 9.96 crores to Rs. 18.26 crores in Q3FY24-25.
Written by Sridhar J
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
