This defence stock is in focus after getting 'buy' call from brokerage - Check details

Shares of Hyderabad-based defence company Apollo Micro Systems (AMS) are in focus as the company has got a 'buy' call from brokerage firm Bonanza Wealth Management Research. The brokerage has issued a 'buy' rating for AMS, setting a target price of Rs 129 per share. The counter opened at Rs 107.90 on the BSE and touched the day's high of Rs 109.75. The counter of AMS, with a market cap of Rs 3212 crore, has a 52-week high of Rs 161.75 and a 52-week low of Rs 34.62. 

The firm highlighted AMS's experience spanning over 38 years in designing, developing, and assembling custom-built electronic and electromechanical solutions. The company's product portfolio includes electronic manufacturing services, PCB fabrication, embedded software design and development, and high-performance mission-critical solutions for defence, space, and homeland security sectors.

Meanwhile, the company has informed exchanges that its board has finalised the allotment of 76 lakh equities upon the conversion of warrants. According to an exchange filing, the board of directors of the Hyderabad-based company approved the allotment of 76,24,700 equity shares of Re 1 each, upon conversion or exchange of warrants. 

 "Consequently, the issued and paid up capital of the Company stands increased to Rs 30,64,89,560 consisting of 30,64,89,560 equity shares of Re 1 each," it said.

Earlier, the board of directors of Apollo Micro Systems Ltd approved the allotment of approved the allotment of 98.85 lakh convertible warrants.