- By Aditya Pratap Singh
- Thu, 09 Apr 2026 03:26 PM (IST)
- Source:JND
Defence Stock: The shares of defence sector company Apollo Micro System Ltd rose over 15 per cent during the intraday trade on Thursday despite a sell-off in the Indian equity market amid fresh tension in middle east day after the US-Iran ceasefire announcement. The rally came after the company announced the successful completion of blast trials for Limpet Mines, becoming the only Indian Company who has successfully developed this product for the Indian Navy.
The stock started the session flat at Rs 208.05 and fell into negative territory, mirroring the decline in the stock market to an intraday low of Rs 207.11. However, the stock reacted sharply after the company announced the development through an exchange filing and soared over 15 per cent to hit a day's high at Rs 238.90.
At the time of writing, the defence stock was trading at Rs 234, up Rs 25.95 or 12.47 per cent. Meanwhile, its 52-week high and low values stood at 354.70 and 110.37, respectively.
"We wish to inform you that Apollo Micro Systems Limited (the "Company"), has successfully completed blast Trials for Limpet Mines. These Limpet Mines are Diver-Carried Mines used in Naval Defence. We are the only Indian Company who has successfully developed this product for the Indian Navy," the company said in exchange filing.
According to the company, the development will position them to be a provider of a complete spectrum of underwater Mines right from Shallow waters, Deep Waters and Limpet Mine Categories, building its strengths in underwater Electronic Warfare systems.
Share Price History
In a long Horizon, the company has given a multibagger return to its investors, jumping over 2,300 per cent in five years. In a year, the stock jumps over 100 per cent. In the last five trading sessions, the stock jumped over 20 per cent.
However, in the last six months, the stock corrected over 25 per cent. This year to date, the stock corrected over 13 per cent.
Disclaimer: This story is for informational purposes only. It should not be considered as investment advice.