Apollo Micro Systems (AMSL) shares gained over 3% on November 25 after the company announced receiving orders worth Rs 4.65 crore from the Defence Research and Development Organization (DRDO). The company also revealed that it has been declared the lowest bidder for additional orders totaling Rs 16.96 crore from DRDO, public sector units, the Indian Navy, and the Indian Army.
On the National Stock Exchange (NSE), the stock rose 3.18% to Rs 94.40 per share following the announcement.
AMSL is into technology-based solutions for infrastructure, transportation, and aerospace. For Q2 FY24, the consolidated PAT of the company increased manifold to around Rs 16 crore from Rs 6.55 crore in the same quarter a year ago. The total income has jumped to Rs 161.30 crore from Rs 87.40 crore during the same period last year on the back of better revenues.
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Source: Moneycontrol
News Desk
