Shares of THIS aerospace-defense company gain as it bags big order

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Shares of aerospace and defense company Apollo Micro Systems gained on Thursday on the back of bagging a defence order. The company through an exchange filing informed that it has secured a worth Rs 43 crore.

“With reference to captioned subject and pursuant to regulation 30 of SEBI (LODR) Regulations, 2015, we are pleased to inform that Company has bagged projects, worth Rs 43.98 crore,” the company said in an exchange filing.

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Apollo Micro Systems is a smallcap company. It is a pioneer in the design, development, assembly and testing of electronic and electro-mechanical solutions. It caters to aerospace, defense and space, railways and automotive sectors.

Shares of Apollo Micro Systems have yielded a massive 139 per cent return in the past one year. In perspective, one share which was available at Rs 138 is now available for Rs 331. 

Meanwhile, the company’s board had last month announced to split its shares. The board of directors at a meeting held on January 21 approved the sub-division of equity shares of the face value of Rs 10 each in the ratio of 10:1. It means that each share will be subdivided into 10 shares. 

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After the split comes into effect, the face value of each share of Apollo Micro Systems will reduce to Rs 1 each.

The record date for the split of equity shares, according to an exchange filing, shall be decided by the board and will be intimated in due course of time.

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