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Stock Market News: Apollo Micro Systems (AMS) Limited has secured multiple orders worth Rs 20.76 crore from the Ministry of Defence. These orders comprise both confirmed orders received and lowest bid tenders for which AMS has been declared as the lowest bidder. “Apollo Micro Systems Limited has recently secured multiple orders amounting to Rs. 20.76 crores from Ministry of Defence. These orders comprise both confirmed orders received and Lowest Bid tenders for which the company has been declared as the Lowest Bidder, highlighting the company’s ongoing engagements in the defense sector,” the filing reads.
The company in a regulatory filing said that it has also received secured orders valued at Rs 15.82 crores from a private company.
Apollo Micro Systems has recently secured multiple orders amounting to Rs. 20.76 crores from the Ministry of Defence.
Meanwhile, the small-cap company is planning to set up a defence equipment manufacturing facility in Telangana at an investment of Rs 150 crore. The proposed facility will come up on an area of 3 lakh sq ft at its facility in Hyderabad.
AMS offers technology-based solutions in sectors like infrastructure, transportation and aerospace, among others.
AMS stocks started off on a poor note on NSE on Wednesday (December 13, 2023) despite the deal. The shares of the small company opened at Rs Rs 119.05 in the first trading session but it fell by 1.39 per cent to Rs 117.40 in early trade.
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