Shares of Apollo Micro Systems Limited (AMS) surged 6.29% to ₹132.36 following the announcement of a strategic partnership with Garden Reach Shipbuilders & Engineers Limited (GRSE). The two companies have signed a Memorandum of Understanding (MoU) to jointly develop and supply advanced weapons and electronic systems over a five-year period.
The collaboration aims to bolster India’s defence manufacturing capabilities by focusing on critical technologies such as underwater weapons, vehicles, mines, communication systems, and air defence solutions. Both companies plan to leverage their manufacturing infrastructure to produce vital components and sub-assemblies for defence and non-defence applications. This partnership is expected to modernize existing defence technologies and introduce upgrade services that cater to evolving operational needs.
The move aligns with India’s goal of enhancing self-reliance in defence production and is expected to unlock new export opportunities. Investors reacted positively to the news, as analysts anticipate the tie-up will significantly boost Apollo Micro Systems’ order book and revenue prospects in the near term, especially given the government’s emphasis on indigenization and modernization of defence infrastructure.
Stock Performance: The stock opened at ₹127.40 and reached a high of ₹132.54 during the session. With a market capitalization of ₹40.53 billion, Apollo Micro Systems remains among the top gainers, reflecting strong investor sentiment.
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