Apollo Micro Systems surges on incorporating subsidiary company
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Apollo Micro Systems is currently trading at Rs. 55.55, up by 1.34 points or 2.47% from its previous closing of Rs. 54.21 on the BSE.
The scrip opened at Rs. 55.71 and has touched a high and low of Rs. 56.57 and Rs. 55.55 respectively. So far 6689 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 63.58 on 08-Aug-2023 and a 52 week low of Rs. 15.04 on 26-Sep-2022.
Last one week high and low of the scrip stood at Rs. 57.85 and Rs. 53.95 respectively. The current market cap of the company is Rs. 1387.63 crore.
The promoters holding in the company stood at 59.10%, while Institutions and Non-Institutions held 3.80% and 37.10% respectively.
Apollo Micro Systems has incorporated a subsidiary company named ‘Apollo Defence Industries’. Apollo Defence Industries shall work on Defence Platforms through collaborated approach both in Domestic and International companies. The Business is in line with the Business of Apollo Micro Systems and compliments the Business of the parent entity at the same time also expands its horizons to larger platforms taking technological support from parent entity.
Apollo Micro Systems offers custom built COTS (Commercially off-the shelf) solutions based on specific requirements to defence and space customers.
