Multibagger defence stock Apollo Micro Systems surged over 12% in intraday trade on Wednesday, May 28, to a fresh record high following a massive order win. 

The BSE Smallcap stock gained for the second straight session, rising as much as 24% in just two days. Meanwhile, in May alone, Apollo Micro Systems shares have rallied over 46% amid a strong surge in defence counters.

Apollo Micro Systems stock opened at ₹157.15 apiece, slightly higher than its last close of ₹155.80 per share. However, as the session progressed, the stock surged to the day’s high of ₹175, also its 52-week high level, recording gains of 12%.

Apollo Micro Systems bags ₹113 crore order

This sharp rally can be attributed to a ₹113.81 crore export order that Apollo Micro Systems announced receiving today. 

“Apollo Micro Systems Limited, in the ordinary course of its business, has received an export order valued at USD 13,366,500 (equivalent to approximately INR 113.81 crores) for the development of an Avionic System,” the company said in a filing today.