Multibagger defence stock hits fresh high; stock up 365% in one year

Shares of Apollo Micro Systems Ltd (AMSL), an aerospace and defence company, zoomed 15.26 per cent on Wednesday to hit a fresh high of Rs 105.40 on BSE.

The stock started trading at Rs 92.85. It finally closed with a 7.32 per cent gain at Rs 98.23.

Apollo Micro Systems is a small-cap stock. The aerospace and defence company has a market capitalisation of Rs 2,288.49 crore. Its 52-week low is Rs 20.71.

Based out of Hyderabad, Apollo Micro Systems is into electronic manufacturing, hardware designing, weapon integration, and platform integration.

The company has said that MP3 International has been appointed as its official representative for the Middle East market.

"This strategic collaboration is established through a Letter of Authorization, paving the way for enhanced market reach and deeper engagement with clients in the region," the company said in a regulatory filing.

MP3 International is a subsidiary of Grade One Group, a prominent part of the EDGE GROUP, an Abu Dhabi government-owned entity. It specialises in the defence products in the UAE. Also, the company has proposed to establish a new composites manufacturing facility.

Last month, Apollo Micro Systems announced setting up a defence equipment manufacturing facility in Hardware Park, Hyderabad with an investment of Rs 150 crore.

Apollo Micro Systems provides mission and time-critical solutions for the government, private defence players, and space and homeland security.

Its shares have delivered a return of 213 per cent in the last six months and 365 per cent in one year.