Shares of Apollo Micro Systems Ltd rebounded during the trading session on Wednesday after the company announced multiple order-wins from public and private sector players. The company informed about the same through an exchange filing during the day. Apollo Micro Systems has recently secured multiple orders amounting to Rs 20.76 crore from the Ministry of Defence, said the company in the exchange filing. "These orders comprise both confirmed orders received and lowest bid tenders for which the company has been declared as the lowest bidder, highlighting the company's ongoing engagements in the defense sector," it said.
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"The company has also successfully secured orders valued at Rs. 15.82 crores from a private company," it added further. Following the announcement, shares of Apollo Micro Systems rebounded about 4 per cent to Rs 121 on Wednesday, from day's low at Rs 117. The company's total market capitalization stood at more than Rs 3,200 crore. The scrip had settled at Rs 119 in the previous trading session on Tuesday. Earlier this week, the company board of Apollo Micro Systems had approved the allotment of equity shares on the conversion of warrants. It approved allotment of 29,54,360 equity shares with a face value of Re 1 each to Nexpact upon conversion of 2,95,436 warrants at an issue price of Rs 186 each upon receipt of balance amount warrant exercise price aggregating to Rs. 4.12 crore.
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