with market value 751.03 Cr, Apollo Micro Systems Ltd. Ltd. is a Small-cap company operating in Industrial sector. As its primary customers are the aerospace, defense and space industries, the company designs, develops and provides solutions, in addition to serving the railway, automotive and homeland security sectors. At their meeting held on Saturday, January 21, 2023, the company’s board of directors announced a 1:10 stock split, which could trigger price action to be seen by market observers over the next week.
The company said in a stock exchange filing that “You are hereby informed that the Board of Directors of the Company at its meeting held today i.e. Saturday, January 21, 2023 at the Registered Office of the Company has considered and approved, inter alia, The following items with items: 1. Dr. Chandrasekhar Mattham (DIN: 09844975) has been appointed as Additional Director of the Company with effect from January 21, 2023, in the capacity of Independent Director. 2. Shri Aditya Kumar Halwasiya (DIN: 08200117) has been appointed as Additional Director of the Company with effect from January 21, 2023 as Non-Executive Non-Independent Director. 3. Re-appointment of Smt. Karunasree Samudrala as Independent Director of the Company for a second term of 5 years from May 29, 2023 to May 28, 2028 subject to the approval of the shareholders. 4. Approved the sub-division / split of 1 (one) Equity Share of face value of Rs. 10/- (Rupees Ten only) fully paid-up in 10 (Ten) Equity Shares of Rs. 1/- (Rupee One only) each fully paid-up, subject to approval of the members of the company and regulatory/statutory approvals as required. The record date for sub-division of equity shares will be decided by the Board and communicated to the exchanges.”
Behind the rationale behind the split, the board of directors cited the reason of increasing the liquidity in the capital market, widening the shareholder base and making the shares more affordable for small investors in the stock markets.
The Board of Directors of Apollo Micro Systems also announced today saying that “We are pleased to inform that the company has received provisional allotment of 10118 sqm of land. Telangana State Industrial Infrastructure Corporation Limited (a Government of Telangana Undertaking) Mts for setting up of electronics industry on Out Right Sale (ORS) basis at TSIIC_HARDWARE_PARK PH-II located at Rangareddy, Distt., Telangana (Near Shamshabad International Airport, Hyderabad)”
Shares of Apollo Micro Systems set a new 52-week high 368.00 every Friday and then closed at 360 which is an upside difference of 0.40% from the previous close 358.55. The stock registered a total volume of 426,961 shares as compared to 20-day average volume of 304,744 shares. share value has increased from 144.85 at the current market price during the last year, resulting in multibagger returns of 148.53%, and so far this year, it has appreciated by 17.78% on YTD basis.
share price climbed 136 in July 2022 at the current market price in the last six months, resulting in multibagger returns of 164.71%. The stock has appreciated 39.86% in last month and 3.46% in last five trading sessions. The stock touched a 52-week low 109.20 on (12-May-2022), indicating that after hitting a new 1-year high on Friday, the stock was trading up 229.67% from its 1-year low. For the quarter ended December 2022, the company reported promoter shareholding of 59.10%, FII shareholding of 0.65%, DII shareholding of 2.63% and public shareholding of 37.63%.
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