Shares of Apollo Micro Systems Ltd extended gains for the third straight session on Friday, rising 9 percent over the period, after its step-down subsidiary secured a defence technology agreement in the United States.
The company said Apollo Strategic Technologies Pvt Ltd (ASTPL), a subsidiary of Apollo Defence Industries Pvt Ltd (ADIPL), has signed a Memorandum of Understanding (MoU) with Dynamic Engineering and Design Inc, USA. The pact covers technology transfer, co-development and potential licensed production of rocket motors for BM-21 Grad ER and non-ER rockets. The agreement was signed at the DSEI exhibition in London on September 10, 2025.
Apollo Micro Systems said the MoU marks a step towards indigenising propulsion technologies for multi-barrel rocket systems and advancing self-reliance in defence manufacturing under the government’s Make in India initiative.
The group has already developed a 122mm rocket warhead in-house and plans to begin trials shortly, with full-scale production targeted by mid-2026. The collaboration will enable integration of indigenous warheads with domestically produced rocket motors, the company added.
The BM-21 Grad rockets are among the most widely used unguided rockets globally. With this initiative, Apollo Micro Systems said it will become one of the few private Indian firms to offer a fully in-house developed rocket system, strengthening India’s position in the global defence supply chain.
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