Shares of Apollo Micro Systems Gains 5 Percent After 4 days of Consecutive Fall

Earlier this month, the board of directors of Apollo Micro Systems approved the allotment of equity shares on the conversion of warrants.

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Earlier yesterday, the National Stock Exchange index Nifty made an all-time high.

Shares of Apollo Micro Systems Limited jumped around 5 per cent on Friday i.e. December 29. The jump in share price came after four days of consecutive falls. The scrip had a gap down opening at Rs 106.50 but went up by 5 per cent amid buying interest by investors. The counter went up to hit Rs 114.20 apiece. The shares of the company saw a spurt in volume by more than 2.11 times on BSE.

The multibagger stock has outperformed the sector by 4.78 per cent. On technical parameters, the share of Apollo Microfinance is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

It is worth mentioning that the company recently secured multiple orders amounting to Rs 20.76 crore from the 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 company said in an exchange filing.

Earlier this month, the board of directors of Apollo Micro Systems approved the allotment of equity shares on the conversion of warrants.

It approved the allotment of 29,54,360 equity shares with a face value of Re 1 each to Nexpact upon conversion of 2,95,436 warrants at an issue price of Rs 186 each upon receipt of the balance amount warrant exercise price aggregating to Rs. 4.12 crore.

Disclaimer: The article is for informational purposes only and not investment advice.



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