Apollo Micro Systems jumps on entering into consortium agreement with Redon Systems
Apollo Micro Systems is currently trading at Rs. 131.80, up by 3.60 points or 2.81% from its previous closing of Rs. 128.20 on the BSE.
The scrip opened at Rs. 130.70 and has touched a high and low of Rs. 134.90 and Rs. 129.20 respectively. So far 431925 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 157.00 on 21-Jan-2025 and a 52 week low of Rs. 88.10 on 23-Oct-2024.
Last one week high and low of the scrip stood at Rs. 143.00 and Rs. 121.60 respectively. The current market cap of the company is Rs. 4001.22 crore.
The promoters holding in the company stood at 55.12%, while Institutions and Non-Institutions held 1.61% and 43.28% respectively.
Apollo Micro Systems has entered into a consortium agreement with Redon Systems to collaborate on a manufacturing partnership. The objective of this consortium is to leverage the combined manufacturing capabilities of the for the procurement of Containerized Automatic Landing Module systems.
Redon Systems is into design and manufacturing of Loitering Munition having successfully demonstrated their products to Indian Armed Forces. Apollo and Redon together through this consortium agreement would like to jointly manufacture systems for Loitering Munition and Allied Systems.
Apollo Micro Systems offers custom built COTS (Commercially off-the shelf) solutions based on specific requirements to defence and space customers.
