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Share Market News: Shares of Apollo Micro Systems Ltd gained around 5 percent in the morning session on Thursday i.e. February 22. The counter opened at Rs 128.95 and surged around 4.75 percent to touch an intraday high of Rs 128.95 The shares of Apollo Micro Systems, which has a market cap of Rs 3,585 crore, had closed at Rs 123.10 in the last trading session.
The surge in price comes as the company it received sanction for a term loan of ₹110 crore from the State Bank of India for the implementation of its upcoming project in Hardware Park, Hyderabad.
In addition to the term loan, SBI has also sanctioned the renewal and enhancement of the following credit facilities for a twelve-month period, up to February 8, 2025. The Cash Credit (CC) limit has been renewed and enhanced from an existing limit of ₹52.50 crore to ₹57.50 crore; the Inland Bank Guarantee (IBG) limit has been renewed and enhanced from an existing limit of ₹40 crore to ₹50 crore. The Inland Letter of Credit (ILC) limit has been renewed for ₹35 crore.
Meanwhile, equity benchmark indices Sensex and Nifty witnessed a volatile movement in early trade on Thursday, amid mixed trends in the global markets.
After opening on a sluggish note, Sensex turned positive and rose 7.58 points or 0.01 per cent to 72,630.67 points. But the 30-share benchmark soon reversed the momentum and fell sharply by 381.94 points or 0.53 per cent to 72,241.15 points.
The broader Nifty also showed some resistance initially but gave in to the selling pressure and declined 148.40 points or 0.67 per cent to 21,906.65 points.
Disclaimer: The article is for informational purposes only and not investment advice.
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