Small-cap defence stock Apollo Micro Systems drops 2%; is it an opportunity to buy?

Small-cap defence stock Apollo Micro Systems dropped by 2 per cent in intraday trade on the BSE on Thursday, November 13, in an otherwise positive market. Apollo Micro Systems share price opened at ₹281.65 against its previous close of ₹281.65 and dropped 1.9 per cent to an intraday low of ₹276.35. However, the stock pared losses and traded 0.04 per cent lower at ₹281.55 around 1:55 pm. Equity benchmark Sensex was 0.40 per cent up at 84,792 at that time.

Apollo Micro Systems shares have given multibagger returns of over 130 per cent this year so far despite stock market volatility. Over the last year, it has surged by almost 200 per cent.

The stock hit a 52-week low of ₹90.40 on November 21 last year and a 52-week high of ₹354.65 on September 17 this year. Apollo Micro Systems shares saw profit booking after hitting a high in September, which dragged it lower by 15 per cent in October. In November so far, it is up by 2 per cent.

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stories by Nishant Kumar

Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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