Apollo Micro Systems shares hit upper circuit - Check Details

Shares of Apollo Micro Systems or AMS hit the upper circuit for the third consecutive day on Thursday. The stock opened in the red at Rs 114 as against the closing price of Rs 115.25. However, a strong buying was seen and the scrip hit the upper circuit of 5 per cent at Rs 121.

Trading in the counter was halted soon after the gain of 5 per cent -- the upper band for the day. As many as 1.36 crore shares of the company changed hands during today's session.

Apollo Micro Systems shares have been gaining for the last 3 days and have yielded a return of 16 per cent to the investors in the period. The scrip is trading higher than 5-day, 20-day, 50-day, 100-day and 200-day moving averages. 

Apollo Micro Systems has informed through an exchange filing that its board will meet on July 23 to consider the issuance of equity shares and/or convertible securities including warrants on a preferential basis. Besides, the board will also determine the issue price. The matter will be, however, subject to the regulatory/statutory approvals.

Meanwhile, equity benchmark indices turned negative soon after hitting new record-high levels in a highly volatile trade on Thursday.

The 30-share BSE Sensex opened on a weak note, but bounced back later and climbed 193.9 points to hit a new record peak of 80,910.45. However, the benchmark failed to hold on to the gains and traded 151.38 points lower at 80,550.97 at 11:22 hours.

Similarly, the NSE Nifty after a weak beginning recovered the early lost ground and climbed 65.9 points to hit a fresh lifetime high of 24,678.90. The Nifty also gave up all the gains and quoted 66.35 points down at 24,546.65.

Among the Sensex pack, Adani Ports, Asian Paints, Tata Steel, NTPC, Power Grid and UltraTech Cement were the biggest laggards.

On the contrary, Tata Consultancy Services, Hindustan Unilever, Bajaj Finserv, Tech Mahindra and State Bank of India were trading in the positive territory.

The BSE benchmark climbed 51.69 points or 0.06 per cent to settle at a new lifetime high of 80,716.55 on Tuesday. The NSE Nifty went up by 26.30 points or 0.11 per cent to settle at an all-time closing high of 24,613.