Multibagger Defence Stock: Why Apollo Micro Systems Shares Climbed 3.5%, Stock Soars 86% In 6 Months

Apollo Micro Systems shares rose over three per cent in early trade on Thursday after the Hyderabad-based defence and aerospace technology company informed exchanges that it has received the Transfer of Technology (ToT) for the Semi-Active Laser Homing System (SALHS). The defence stock started the session slightly higher at Rs 371 per share as compared to the last closing of Rs 370.35. 

The multibagger defence stock escalated the momentum further to hit an intraday high at Rs 383 on NSE, up 3.4 per cent from the last closing. Meanwhile, its 52-week high and low values stood at Rs 466.50 and Rs 179.50, respectively. 

Share Price History

According to NSE data, the stock jumped over 36 per cent this year till date (YTD). In the last six months, it rose over 86 per cent. In a year period, the stock escalated over 11 per cent. In the last five years, the stock skyrocketed over 3,136 per cent. 

What Does SALHS Mean? 

The Semi-Active Laser Homing System (SALHS) serves as a precision guidance mechanism that directs munitions to targets marked by laser designation during flight.

Prior to this, the Ministry of Defence granted Acceptance of Necessity (AoN) approval for the Multi Influence Ground Mine (MIGM) - Vighana project.

This milestone reinforces the firm's progress in becoming a Tier-I Original Equipment Design Cum Manufacturer (OEDM).

This is a developing story...