Shares of Apollo Micro Systems Ltd (AMSL), which offers technology-based solutions in sectors like infrastructure, transportation, aerospace, defence among others, continues to on investors' radar as the company has been bagging back-to-back orders. The firm has now been declared as the lowest bidder by a defence Public Sector Undertaking (PSU), for orders worth Rs 257.89 million. According to the information shared, order needs to be executed within a period of eighteen months. Amid this, the counter started the trading session in the green at Rs 277.25 against the prevoius close of Rs 275.80 on the BSE. It gained further to touch the high of Rs 278.25 before falling amid profit booking. The touched the intrday low of Rs 268.30. Last seen, the stock was trading with a dip of 1.92 per cent at Rs 270.50 and the market cap of the company stood at Rs 9,080.
Stock falls after two days of rally
Stock has fallen after two days of consecutive gain and technically trades higher than the 5-day, 20-day, 50-day and 200-day moving averages but lower than the 100-day moving averages.
The stock has a 52-week high of Rs 354.65 and a 52-week low of Rs 101.05.
Meanwhile, the BSE has placed the stock under the Short Term Additional Surveillance Measure Stage 1 (ST ASM-1) framework.
Bags Rs 150 crore order
Earlier on Thursday, the company said that its subsidiary, Apollo Defense Industries Private Limited, has entered into an agreement with a private company for the execution of a contract worth Rs 150 crore as part of its normal business operations. This agreement is considered a significant step towards expanding the company's business and strengthening its order book.
Ahead of this, its step-down subsidiary M/s. IDL Explosives Limited had received a large order as part of its regular business. The company has been awarded a Running Contract (RC) worth Rs 4,193.96 million for supply of bulk explosives to subsidiary companies of Coal India Limited.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
