Shares of Apollo Micro Systems, a small-cap defence and explosives manufacturer, rallied nearly 5 % to about ₹272.50 on Wednesday after the company announced fresh orders totalling roughly ₹420.9 crore.
The bulk of the new business comes from **a running contract awarded to its step-down subsidiary IDL Explosives Ltd for the supply of bulk explosives to subsidiaries of Maharatna PSU Coal India Ltd, valued at about ₹419.4 crore. In addition, the subsidiary also secured a small export order worth ₹1.5 crore for cartridge explosives.
This order win expands Apollo Micro Systems’ footprint in both the explosives and defence segments, adding to its existing project pipeline. Earlier in the week, the company had also announced a ₹100.25 crore order for unmanned aerial systems to be supplied to the Ministry of Defence.
Over the past year, the stock has delivered strong returns, with a roughly 124 % year-to-date gain and multibagger performance over five years, reflecting growing investor interest in defence equities amid a broader rally in the sector.
In summary: Apollo Micro Systems’ share price rose after securing a major order from a Coal India subsidiary and an export contract, reinforcing its order book and contributing to renewed investor confidence in the defence small-cap space.
