Small-cap defence stock Apollo Micro Systems dropped by 2 per cent in intraday trade on the BSE on Thursday, November 13, in an otherwise positive market.
Apollo Micro Systems share price opened at ₹281.65 against its previous close of ₹281.65 and dropped 1.9 per cent to an intraday low of ₹276.35. However, the stock pared losses and traded 0.04 per cent lower at ₹281.55 around 1:55 pm. Equity benchmark Sensex was 0.40 per cent up at 84,792 at that time.
Meanwhile, Apollo Micro Systems has allotted 35,088 equity shares of face value ₹1 each to an investor, Piyush Bhupendra Gala, after the conversion of an equal number of warrants.
The company said the allotment was approved by its Securities Allotment Committee on November 12, 2025, following the receipt of ₹30 lakh as warrant exercise money from Gala. Each warrant was converted into one equity share at an issue price of ₹114 per share.
Earlier, the company had issued 3,80,67,058 convertible warrants on a preferential basis to promoters and non-promoters with an option to convert the same into an equal number of equity shares at a price of ₹114 per warrant, within a period of six months from the date of allotment of warrants, i.e. 2nd June 2025.
Out of 3,80,67,058 warrants allotted on 2nd June, 21,07,194 warrants were converted on 22nd September 2025, and 35,088 warrants were converted into equity shares on 12th November 2025.
Apollo Micro Systems share price trend
Apollo Micro Systems shares have given multibagger returns of over 130 per cent this year so far despite stock market volatility. Over the last year, it has surged by almost 200 per cent.
The stock hit a 52-week low of ₹90.40 on November 21 last year and a 52-week high of ₹354.65 on September 17 this year. Apollo Micro Systems shares saw profit booking after hitting a high in September, which dragged it lower by 15 per cent in October. In November so far, it is up by 2 per cent.
Is it the right time to buy Apollo Micro Systems shares?
Technical experts see the potential for an upside in the stock as the stock is trading above major moving averages, and the daily MACD is also indicating an improvement in momentum.
According to Jigar S. Patel, Senior Manager of Equity Technical Research at Anand Rathi Share and Stock Brokers, the stock is currently trading near the 38.2 per cent Fibonacci retracement level, which coincides with a key trendline support, suggesting a potential area of price stabilisation.
The MACD on the daily chart is also indicating a loss of downside momentum, hinting at a possible reversal ahead.
“This confluence of technical factors strengthens the case for a near-term recovery. As long as the stock sustains above ₹257, the broader structure remains constructive, and a rebound towards the ₹310 zone can be anticipated. A close below ₹257, however, would weaken the setup and invite further consolidation pressure,” said Patel.
On the other hand, brokerage firm Centrum Broking believe the overall set-up looks strong for the stock and investors may bet on the stock with a target price of ₹320 and a stop loss of ₹264.
“The stock gave a breakout from a falling wedge pattern on the daily chart. It is also trading well above its 100 and 200 DMAs. The momentum indicators and oscillators have given a buy crossover on the daily chart,” the brokerage firm noted.