Apollo Micro Systems share price advanced over 3 percent on Thursday after the company emerged as the lowest bidder for Rs 28.74 crore project.
The stock surged to its intraday high of Rs 104.31 per share on the NSE, up 3.16 percent. At around 1.45 PM, the shares were trading at Rs 102.86 apiece, up 1.73 percent.
The company in recent exchange filing, said "It has been declared as the Lowest Bidder (L1) for orders worth Rs. 28.74 crores from Bharat Electronics Limited (BEL) and CNA (OF) Pune, Indian Navy. The order from BEL is a proprietary order."
Its shares have delivered multibagger returns of 755.36 percent in the last three years. In 2024 so far, the stock has delivered negative returns of 14.18 percent.
Earlier in July, it secured an order by the Indian Army for procurement of vehicle mounted counter swarm drone system (VMCSDS) under Make-II category of DAP-2020.
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