India's Apollo Micro Systems rises after stake buy in Premier Explosives
10/07/2026 05:13
BUZZ-India's Apollo Micro Systems rises after stake buy in Premier Explosives ** Shares of Apollo Micro Systems APLL.NS rise 2.3% to 407.45 rupees
** Defence electronics maker says it will acquire 41.33% stake in defence and aerospace explosives manufacturer Premier Explosives PRMR.NS for 15.5 billion Indian rupees ($162.77 million)
** Deal comes amid consolidation in India's fast-growing defence manufacturing sector, supported by higher government spending and a push for local production
** Stock up 51.8% YTD
($1 = 95.2250 Indian rupees)
(Reporting by Payel Das in Bengaluru)
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India's Apollo Micro Systems rises after stake buy in Premier Explosives
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India's defence electronics maker Apollo Micro to buy 41.3% stake in Premier Explosives
Brief: Apollo Micro Systems To Buy Control Of Premier Explosives For 15.5 Bln Rupees