Stock market update: Defence stock AMSL gains over 7 per cent today: Here's why
Stock market update: Shares of aerospace and defence company Apollo Micro Systems Ltd (AMSL) jumped over 7 per cent today, i.e. on May 15, 2025, even as the market remains volatile. The stock opened at Rs 131.80, with a slight gain from the previous close of Rs 131 on the BSE. It later surged to touch the intraday high of Rs 141.10 – this is a gain of 7.71 per cent from the last closing price. On technical parameters, the counter is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Also, it has outperformed the sector by 3.14 per cent. The market cap of the company is Rs 4,229.56 crore.
The 52-week high of the stock is Rs 157, and the 52-week low is Rs 88.10.
The stock is also in action as the company has informed exchanges about the critical updates to its Extraordinary General Meeting (EGM) notice and corrigendum, issued earlier in January 2025.
The company stated that for convertible equity warrants, 25 per cent of the issue proceeds would be collected at the time of allotment, with the remaining 75 per cent due within six months. The entire amount is expected to be utilised within nine months in line with SEBI's ICDR regulations.
The company has also corrected earlier references in its filings by stating that the phrase 'and Private Sector' in one section of the corrigendum and addressing regulatory observations made by NSE on May 13, stands deleted.
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.
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