Apollo Micro Systems Secures ₹1,500 Crore Contract and Trading Updates
Apollo Micro Systems Ltd. has secured a ₹1,500 crore contract through its subsidiary, Apollo Defense Industries Private Limited, leading to a rise in its stock prices. Additionally, its step-down subsidiary, IDL Explosives Limited, obtained a contract worth ₹4,208.96 million for bulk explosives and received DRDO approval for two Transfer of Technology initiatives related to laser-based Directed Energy Weapons.
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Apollo Micro Systems Ltd. announced a ₹1,500 crore contract through its subsidiary Apollo Defense Industries Private Limited, marking a significant expansion of its business. Following this announcement on January 1, the company's stock rose, trading at Rs 275.05 on the BSE and Rs 274.40 on the NSE as of 12:56 pm.
Additionally, Apollo's step-down subsidiary IDL Explosives Limited secured a Running Contract worth ₹4,193.96 million for bulk explosives for Coal India Limited and an export order for cartridge explosives valued at ₹15 million, totaling ₹4,208.96 million. The company also received approval from DRDO for two Transfer of Technology initiatives related to laser-based Directed Energy Weapons, including a 10 kW multi-channel laser system and an electro-optical tracking system.
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