Multibagger defence stock Apollo Micro Systems skyrocketed 16% in intraday deals on Friday, 17 April, after the company received the government nod to manufacture ammunition.
The small-cap stock in an exchange filing today said, “This is to inform you that Apollo Micro Systems Limited (AMS) has been granted a License by the Government of India, Ministry of Commerce and Industry, Department for Promotion of Industry and Internal Trade (DPIIT), for the manufacture of ammunitions.”
The license is valid for a lifetime and was issued on 10 April 2026. It allows Apollo Micro Systems to manufacture, assemble, integrate, and proof-test the following high-value strategic weapon systems and munitions.
The multibagger defence stock has received government nod to manufacture arms of calibre above 12.7 mm in Category I and Category II. The first category includes the manufacturing of missiles, anti-tank guided missiles (ATGMs), torpedoes, underwater mines, safety arming mechanisms, chaffs, flares and decoys. In the second category, they have received a nod to manufacture aerial bombs, rockets, and loitering munitions.
The grant of this lifetime license by the Government of India fundamentally transforms Apollo Micro Systems Limited’s revenue architecture and strategic positioning, the company said.
The company moves from being a provider of embedded systems and subsystems to an end-to-end platform manufacturer of complete weapon systems, including missiles, torpedoes, precision bombs, and next-generation loitering munitions, it added in a filing today.
“This license is an important step in expanding the Company’s presence in the defence manufacturing sector. Together with the capabilities of IDL Explosives, we now have the building blocks to develop and manufacture a meaningful range of weapon systems for the Indian Armed Forces and for export. We will progress methodically, ensuring that our manufacturing infrastructure, quality systems and regulatory compliances are in place before we scale production,” B Karunakar Reddy, Managing Director, Apollo Micro Systems.
Apollo Micro Systems share price trend
Apollo Micro Systems shares have jumped 41% in a month, while it is up 3.75% on a year-to-date basis. The defence player has emerged as a multibagger stock on a long term, with 3058% rally in five years and 782% jump in three years.
Disclaimer: This story is for educational purposes only. We advise investors to check with certified experts before making any investment decisions.
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