Apollo Micro Systems shares gain 3% on 15 year defence license; key details

Apollo Micro Systems Ltd Secures 15-Year License for Defence Equipment Manufacturing

Shares of Apollo Micro Systems Ltd witnessed a significant surge in Tuesday's trade after the Hyderabad-based defence player announced that it has secured a 15-year license from the government to manufacture defence equipment.

The license includes unmanned aerial systems and radar technologies, enabling the company to expand its offerings beyond drones.

• Unmanned Aerial Systems (UAS)
• Radar Technologies
• MEMS-based Inertial Navigation Systems
• Fiber Optic Gyro (FOG) systems
• Ring Laser Gyro (RLG) systems
• Complete Radar Equipment along with associated and allied subsystems

The stock price of Apollo Micro Systems Ltd rose by nearly 3% in early trade, touching a high of Rs 276.35, up from its previous close of Rs 268.35 apiece.

The company's market capitalization stands at Rs 9,208 crore.

The license approval from the Department for Promotion of Industry and Internal Trade (DPIIT) is expected to open up new opportunities for the company in the defence sector.

According to the regulatory filing, the license is a prerequisite for the company's present and upcoming manufacturing opportunities with the Ministry of Defence (MoD).

Key Highlights:

• 15-year validity license
• Manufacturing of defence equipment, including unmanned aerial systems and radar technologies
• Expansion of offerings beyond drones
• Increased market capitalization of Rs 9,208 crore
• Improved stock price by nearly 3%