The Apollo Micro Systems share price saw heavy buying on Friday. Today, the defence and aerospace stocks opened at ₹113 each on the NSE and reached an intraday high of ₹120.40 per share, representing an 8% increase from Thursday’s close price of ₹110.77 per share.

Dalal Street Bulls did not pay much attention to the small-cap firm as it set August 9, 2024, as the date for the Q1 results. Following today’s release of the Q1 results, Friday trading saw heavy buying in the shares. The defence and aerospace company’s Q1 2024 results showed a significant YoY increase in net profit and net income. The small-cap defence stock announced today the Q1FY25 results along with the final dividend record date.

The firm recorded a net income of ₹92.03 crore, compared to ₹58.06 crore in the previous fiscal year. So, the company’s overall income increased by 58.50 percent year on year during the April to June 2024 quarter. During the April-June 2024 quarter. The company’s net profit was ₹8.61 crore, up from ₹1.80 crore in the first quarter of the previous fiscal year. As a result, the company’s YoY net profit increased by 380 percent in the first quarter of this fiscal year.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.

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.

Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.