Multibagger defence stock gains 7 percent after this update
Multibagger Stock: Shares of Apollo Micro Systems Ltd (AMSL) are in focus today i.e. on April 7, 2025. The stock has gained over 6 per cent after the firm shared details about a share purchase agreement with the exchanges. The counter started the session at Rs 119.90 on the BSE with a gain of 3.01 per cent from the previous close of Rs 116.40. It surged further to touch the intraday high of Rs 125. This is a jump of 7.39 per cent. The counter has gained after two days of consecutive falls. The 52-week high of the stock is Rs 157 and the 52-week low is Rs 88.10. The market cap of the company is Rs 3,797 crore.
AMSL, an aerospace and defence company, offers technology-based solutions in sectors such as infrastructure, transportation and others. AMSL acquires IDL Explosives
In an exchange filing, the company said that it has signed a Share Purchase Agreement to acquire full ownership of IDL Explosives Limited. The all-cash deal, according to the information shared, is of Rs 107 crore and in all-cash.
'Apollo Group is proud to announce a significant enhancement to its strategic portfolio through a landmark alignment with India's First Explosives Company- A Pioneering, Indian-owned enterprise with a distinguished legacy of over 64 years. This esteemed organization, a proud member of the globally renowned Hinduja Group, brings unparalleled expertise and heritage to the partnership,' said the company in an exchange filing.
The transaction is expected to be completed within two to three months.
Earlier, the company signed an agreement with state-owned Munitions India to jointly develop defence systems in the domestic and international markets.
As part of the Memorandum of Understanding (MoU), both entities will identify and pursue opportunities for the design, development, and deployment of advanced defence technologies, Hyderabad-based AMSL said in a regulatory filing.
AMSL has also inked a pact with Troop Comforts for joint manufacturing, marketing, and development of advanced air-defence systems, including anti-drone and anti-aircraft solutions.
With PTI inputs
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