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This Small-Cap Aerospace Stock Surges Over 6% After Bagging Orders from DRDO


By Malvika Gurung

Investing.com — The aerospace and defense company Apollo Micro Systems Ltd (NS:) has bagged multiple orders from the government research agency Defence Research and Development Organisation, for an amount worth Rs 5.72 crore.

The company has also announced installing CCTV based Security Surveillance and Animal Monitoring Systems at Nehru Zoological Park, Hyderabad, in a press release.

After the announcements, shares of Apollo Micro Systems have surged 6.2% to Rs 127.3 apiece at 2:55 pm on Friday, when is trading 0.3% lower.

On a consolidated basis, the defense company reported a decline of 24% in net profit to Rs 2.75 crore on a YoY basis and has tumbled 30.8% YoY in recording net sales of Rs 45.9 crore for the quarter ending September 2021.

Apollo Micro Systems designs, develops and sells high-performance, mission and time-critical solutions to defence, space and homeland security for the Ministry of Defence, government-controlled public sector undertakings and private sectors.



Read More : This Small-Cap Aerospace Stock Surges Over 6% After Bagging Orders from DRDO

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