Apollo Micro Systems Shares Surge 3% After Winning ₹28.74 Crore Project Bid - Check Details!Apollo Micro Systems Shares Surge 3% After Winning ₹28.74 Crore Project Bid - Check Details!

Apollo Micro Systems’ share price rose over 3% on Thursday after the company was announced as the lowest bidder for a ₹28.74 crore project. The stock peaked at ₹104.31 on the NSE, reflecting a gain of 3.16%. By 1:45 PM, shares were trading at ₹102.86, up 1.73%.

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In a recent exchange filing, Apollo Micro Systems confirmed it had been designated as the Lowest Bidder (L1) for orders from Bharat Electronics Limited (BEL) and CNA (OF) Pune, specifically for the Indian Navy. The order from BEL is noted as proprietary.

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The company’s shares have provided impressive multibagger returns of 755.36% over the past three years, although they have seen a decline of 14.18% in 2024. Earlier this July, Apollo secured an order from the Indian Army for a vehicle-mounted counter-swarm drone system.