Apollo Micro Systems shares recovered from intraday lows on Wednesday, closing slightly higher after the company announced it had secured new orders worth ₹213 crore.
The contracts involve the Defence Research and Development Organisation (DRDO), various public sector undertakings, and private clients, providing a fresh revenue catalyst for the defence electronics manufacturer.
82% marked a reversal from the previous session, when Indian defence equities broadly pulled back as traders booked profits following a two-day rally.
The stock opened at ₹400.95, marginally above Tuesday’s close of ₹398, before settling at ₹401.45.
This modest gain of 0.82% marked a reversal from the previous session, when Indian defence equities broadly pulled back as traders booked profits following a two-day rally.
The sector had surged earlier in the week on reports of expanded government procurement plans, with major peers like Hindustan Aeronautics Ltd and Bharat Electronics Ltd leading the advance.
Apollo Micro Systems’ specific order disclosure helped stabilize sentiment for the name, distinguishing it from the broader sector sell-off.