This Small-Cap Aerospace Stock Surges Over 6% After Bagging Orders from DRDO

By Malvika Gurung

Investing.com — The aerospace and protection firm Apollo Micro Programs Ltd (NS:) has bagged a number of orders from the federal government analysis company Defence Analysis and Improvement Organisation, for an quantity price Rs 5.72 crore.

The corporate has additionally introduced putting in CCTV primarily based Safety Surveillance and Animal Monitoring Programs at Nehru Zoological Park, Hyderabad, in a press launch.

After the bulletins, shares of Apollo Micro Programs have surged 6.2% to Rs 127.3 apiece at 2:55 pm on Friday, when is buying and selling 0.3% decrease.

On a consolidated foundation, the protection firm reported a decline of 24% in internet revenue to Rs 2.75 crore on a YoY foundation and has tumbled 30.8% YoY in recording internet gross sales of Rs 45.9 crore for the quarter ending September 2021.

Apollo Micro Programs designs, develops and sells high-performance, mission and time-critical options to defence, house and homeland safety for the Ministry of Defence, government-controlled public sector undertakings and personal sectors.