Apollo Micro Systems Ltd, in a BSE filing on Friday, announced that it received approval from the Defence Research and Development Organisation’s (DRDO’s) DcPP to serve as the production agency for the Multi-Influence Ground Mine (MIGM) – Vighana.
The company also informed that it has signed an agreement with DRDO for the transfer of technology (ToT) of the Omni-Directional multi-EFP warhead for the NASM-SR missile.
On the stock front, Apollo Micro shares jumped 12 per cent to a record high of Rs 271.60 before easing to trade 7.01 per cent higher at Rs 259.50. At this level, the stock has delivered multibagger gains, rallying 130.16 per cent over the past six months.
Bourses BSE and NSE have put the securities of Apollo Micro under the short-term ASM (Additional Surveillance Measure) framework. Exchanges put stocks in short-term or long-term ASM frameworks to caution investors about high volatility in share prices.
A few experts caution that the recent sharp rally has stretched valuations. While one suggests tracking the company for its long-term growth prospects, another recommends booking profits gradually after its multibagger run.
“Apollo Micro is among the few small or mid-sized private defence company that is a tier-one supplier to the Indian defence system. Being a tier-one supplier, they sell directly to defence companies and the Indian Army, Navy, etc. This company could have a long growth runway with more orders likely. Apollo Micro, however, has seen a sharp run-up in stock price in a short time. Valuations may not justify current levels, but long-term investors can study the company in detail and take a call,” noted Sunil Shah, Fund Manager and Partner at SRE PMS.
“The stock has already delivered multibagger returns. I recommend selling in phases,” stated G Chokkalingam, Founder and MD of Equinomics Research.
As of June 2025, promoters held a 50.65 per cent stake in the private defence firm.