Apollo Micro Systems, the multibagger defence stock, surged 3% in intra-day trading on December 2 following a major regulatory approval. The Hyderabad-based defence and engineering firm was granted an Industrial Explosives and Manufacturing License by the Department for Promotion of Industry and Internal Trade (DPIIT), enhancing its eligibility for upcoming Ministry of Defence (MoD) contracts.
The license authorizes Apollo to manufacture critical defence-grade products, including Unmanned Aerial Systems (UAS), Inertial Navigation Systems (INS), and integrated radar equipment. Valid for 15 years, it provides long-term regulatory clarity for the company’s expansion plans in defence manufacturing. Apollo is already developing multiple UAS platforms, including logistics-focused and attack-class drones, expected to enter field trials in the next two quarters. On the navigation front, it can now produce high-precision INS technologies such as MEMS-based units, Fiber Optic Gyros, and Ring Laser Gyros, essential for drones, missiles, and aircraft. The license also covers radar system production, including antennas, signal processors, and transmit-receive modules.
The stock hit a high of ₹276.35, up 3%, marking a 199% rise from its 52-week low of ₹92.50, though still 22% below its 52-week peak of ₹354.65.
