India's Apollo Micro Systems up on agreements with DRDO

Apollo Micro Systems

25/09/2023 10:01

** Shares of Apollo Micro Systems Ltd  APLL.NS  rise as much
as 9.8%, set to snap three days of loss
    ** Co on Saturday signed multiple transfer of technology
agreements with Defence Research and Development Organisation
(DRDO)
    ** Agreements include deals on navigation technology and
weaponisation of handheld thermal imager, among others
    ** Separately, co also said it won multiple projects from
DRDO and another government company with a combined value of
281.5 mln rupees ($3.4 mln)
    ** More than 5.1 mln shares traded by 2:15 p.m. IST, 3.5
times their 30-day avg - LSEG data
    ** Stock up around 8.5%, taking YTD gains to ~100%

 (Reporting by Nishit Navin in Bengaluru)
 ((nishit.navin@thomsonreuters.com;))