Multibagger defence stock Apollo Microsystems share price fell over 3% on the NSE in Tuesday’s trading session. The defence stock opened at ₹391.60 apiece today, as compared to the previous close of ₹392.95 on Monday.
The fall in the stock came despite the company announcing that it has been shortlisted and empanelled by the Indian Air Force (IAF) as a Prime Development Agency (DA).
Details here
According to the exchange filing, Apollo Microsystems said that it has been shortlisted for the Indigenous Precision Range Extension Kit (IPREK) programme, under the Make-II (Industry Funded) category of India’s Defence Acquisition Procedure 2020 (DAP-2020).
This empanelment marks AMS’s entry into India’s precision guided munition (PGM) segment as a Prime one of the highest-value, highest-barrier segments of the Indian defence manufacturing market, the company said in the filing.
What is the Make-II Programme?
The Make-II (Industry Funded) category under the Defence Acquisition Procedure (DAP) 2020 is among India’s most forward-looking defence procurement initiatives. It encourages Indian companies to finance the design and development of advanced military systems, while the government commits to procuring successful prototypes on a large scale.
For Apollo Micro Systems, being empanelled under this programme represents more than just a project milestone. It serves as the Indian Air Force’s formal recognition of the company’s capability to design, develop, and deliver a world-class precision-guided weapon system entirely within India.
What is the IPREK?
IPREK is a precision guidance and range extension kit developed to upgrade India’s existing stock of 500-kg General Purpose (GP) unguided bombs into long-range precision glide weapons. Once equipped with the kit, the bomb can be launched from a distance of over 80–100 kilometers while maintaining an accuracy of within 3 meters of the designated target, allowing the aircraft to remain outside the range of most air defence systems.
By converting the current bomb inventory into precision standoff weapons, IPREK offers a cost-effective alternative to purchasing new imported precision-guided munitions.
“The Indian Air Force’s selection of Apollo Micro Systems as a Development Agency for IPREK is one of the most defining moments in our company’s history. We have spent decades building the indigenous capability to win a programme like this guidance systems, electro-optical seekers, NavIC navigation, airborne certification. IPREK is the convergence of all of it into a single, sovereign capability that India is building for itself. We are not assembling imported kits. We are engineering a precision weapon from the ground up, on Indian soil, with Indian talent. I also want to acknowledge our long-standing collaboration with DRDO the foundational knowledge they have shared with us over the years is embedded in everything we build. IPREK is an Atmanirbhar Bharat story, and Apollo is proud to be at its centre,” said Baddam Karunakar Reddy, Managing Director, Apollo Micro Systems Limited.
Apollo Microsystems share price trend
Multibagger defence company Apollo Microsystems share price trend has remained volatile in the near-term. The multibagger stock has slipped 2.32% in a week and 0.75% in a month.
Furthermore, the defence stock has given 38% returns on year-to-date (YTD) and multibagger returns of 110% in a year.
Looking at the broader level, the stock has delivered 594% in returns in the last three years and 3,200% returns in five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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