Apollo Micro Systems share hits 5% upper circuit after it secures order from Indian Army

Apollo Micro Systems shares rose significantly in early trading after the company announced that it had received orders from the Indian Army. Defence and aerospace stocks opened at ₹109.76 per on NSE, reaching a 5-percent increase within seconds of the Indian stock market’s opening bell.

On Friday last week, the small-cap company told Indian stock markets that it had received the Make II project from the Indian Army to buy a Vehicle Mounted Counter Swarm Drone System. According to the company, this is the defence company’s first Make II project win. The company stated that there would be no expense involved in the Make II  project.

This defence and aerospace stock is available for trading on the BSE and NSE. With a market capitalization of ₹3,364 crore, the defence stock is among the top small-cap stocks on Dalal Street.

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