Apollo Micro Systems surges 7% on reports of ₹30,000-crore defence order for key customer BEL

Shares in the Indian defence electronics firm outperformed broader market weakness as investors priced in a potential major contract win for Bharat Electronics Ltd under the QRSAM program.

By Handelsavisen Newsroom · Automated 2026-06-29 09:31 UTC · 1 min read

Apollo Micro Systems shares climbed more than 7% on Monday, bucking a broader sell-off in Indian equities.

The rally was triggered by reports that the company’s key customer, Bharat Electronics Ltd (BEL), is poised to secure a ₹30,000-crore order under the Quick Reaction Surface-to-Air Missile (QRSAM) program.

The contract is expected to be approved in the near term, according to market reports.

The price action reflects investor optimism about the downstream impact on Apollo Micro Systems, a supplier of electronic components and systems to the defence sector.

While the broader market faced selling pressure, the defence stock’s resilience highlights the sector’s relative strength amid specific order-driven catalysts.

The potential ₹30,000-crore deal for BEL represents a significant volume opportunity, with Apollo Micro Systems positioned as a beneficiary through its supply chain relationships.