Defence Stock Shows Resilience Amid Market Downturn Shares of Apollo Micro Systems, a technology-driven firm specializing in aerospace, defence, and homeland security, closed higher on Wednesday despite broader market declines. The stock opened lower at Rs 213.95, down from the previous close of Rs 214.15 on the BSE, but later rebounded to touch a high of Rs 217.35, reflecting a 1.49 per cent gain. This performance contrasted with the broader Indian equity indices, which fell sharply as global markets reacted to escalating tensions in West Asia, pushing oil prices higher. The company reported receiving significant defence and government contracts, with total orders valued at Rs 73.33 crore. A key portion of this includes a Rs 15 crore order from the Defence Research & Development Organisation (DRDO) for advanced systems such as Homing systems for Heavy Weight Torpedoes, Fire Control Systems, Launchers for Strategic Missile Programmes, and Cyber Security Systems for the Intelligence Department. These contracts highlight the firm’s role in critical national security projects. Technical indicators suggest the stock is currently trading below key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. The 14-day relative strength index (RSI) stands at 35.71, indicating the stock is neither overbought nor oversold, as levels above 70 are considered overbought and below 30 are oversold. Historically, the stock has delivered strong returns, with a 1,751 per cent gain over five years and 568.39 per cent in three years. However, it has seen a 22.86 per cent correction year-to-date, reflecting recent market volatility.#drdo #apollo_micro_systems #defence_research_and_development_organisation #homeweight_torpedoes #fire_control_systems
