The stock has gained nearly 50% over the past month, boosted by new orders and strong Q1 earnings
Apollo Microsystems’ shares jumped to fresh highs in afternoon trade on Friday after securing orders from India’s Defence Research and Development Organisation (DRDO).
At the time of writing, Apollo Microsystems’ shares were up 7.8% to ₹261.3.
According to an official press release on Friday, the defence firm has been approved as the production agency for the Multi-Influence Ground Mine (MIGM) – Vighana under DcPP by DRDO. It has also signed an agreement with DRDO for the transfer of technology (ToT) of the Omni-Directional Multi-EFP warhead for the NASM-SR missile.
Technical Outlook
Apollo Micro Systems surged to a record high after securing a fresh order from the DRDO. The rally has added to its strong technical structure, with both long-term and short-term charts indicating continued momentum, according to SEBI-registered analyst Prabhat Mittal.
On the long-term chart, the stock had earlier formed a double top around ₹160 in November 2023 and January 2025, while maintaining strong support at ₹90 within a parallel channel. A decisive breakout above ₹160 in May 2025 triggered a sharp uptrend, and since then, the stock has been moving within an upward-sloping channel on the short-term chart, according to Mittal.
It is now trading comfortably above all key moving averages, reinforcing bullish sentiment.
The analyst indicated two key strategies for traders. A potential buying opportunity may emerge if the stock dips towards the ₹220–₹230 zone, closer to the channel support, with a strict stop-loss below ₹190. Alternatively, a breakout above ₹272 could open the door for higher targets of ₹320 and ₹340.
Order Wins, Robust Q1 Earnings Drive Shares
Apollo Micro Systems shares have gained 47% over the past month. It is among the top 2 trending stocks on Stocktwits.
Retail sentiment on the platform turned ‘bullish’ from ‘neutral’ amid ‘high’ message volumes. Overall, retail sentiment has largely been ‘bullish’ over the past three months.
The company posted strong Q1 results with profit after tax more than doubling to ₹19.43 crore, while revenue from operations surged 46% to ₹133.58 crore. Last week, the company bagged defense orders worth ₹25.12 crores.
India’s defense stocks have seen strong gains this year due to the Indian government’s increased spending in the sector. India’s annual defense production reached a record high of ₹1,50,590 crore in FY 2024-25, while exports also increased to a record ₹23,622 crore during the same period.
Earlier this month, the Defence Acquisition Council (DAC) approved capital acquisition proposals worth approximately ₹67,000 crore to enhance the operational capabilities of the Indian Armed Forces, comprising the Army, Navy, and Air Force.
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