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Apollo Micro Systems Hits Upper Circuit After DRDO Tech Approval
22 Dec
Summary
- Apollo Micro Systems stock surged 5% to ₹249.80 following DRDO technology approvals.
- Company secured two Transfers of Technology for Laser-Based Directed Energy Weapon systems.
- A 15-year license for manufacturing high-energy defence explosives was also granted.
Apollo Micro Systems experienced a significant boost in its share price, reaching a 5% upper circuit of ₹249.80. This surge was driven by recent approvals from the Defence Research and Development Organisation (DRDO), which granted the company two Transfers of Technology.
These approvals pertain to Laser-Based Directed Energy Weapon systems, enhancing Apollo Micro Systems' capabilities in advanced defence technologies. The company's Managing Director highlighted that these new technologies will complement ongoing development efforts, particularly in response to evolving aerial threats.
Furthermore, Apollo Micro Systems' step-down subsidiary, IDL Explosives Limited, recently obtained a 15-year Industrial License for the manufacturing of high-energy defence explosives. This strategic expansion into specialized defence materials production underscores the company's growing role in India's defence indigenisation efforts.
