Multibagger stock to buy: Defence stock Apollo Micro Systems rises 60% in one month. More steam left?
Multibagger stock to buy: Apollo Micro Systems, a small-cap defence stock, has delivered stellar returns in May, surging over 60 per cent after a modest 4 per cent dip in April. The rally comes amid sustained bullish sentiment in the defence sector.
On Friday, May 30, the small-cap defence stock climbed nearly 3 per cent to hit its fresh 52-week high of ₹ 194, gaining 82 per cent over the last year. The stock has turned multibagger over the past three years, delivering returns of over 1,400 per cent.
Meanwhile, on May 28th, the company said it had received an export order valued at $13,366,500 (equivalent to approximately ₹ 113.81 crore) for the development of an avionic system.
"This project pertains to the development of an advanced avionics system intended for use in civil and military aircraft applications. However, due to the sensitive nature of the engagement, specific technical and program details are bound by a non-disclosure agreement (NDA) with the customer," the company said in an exchange filing.
(This is a developing story. Please check back for fresh updates.)
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