The 21% surge this week follows a 12% advance last week and another 24% surge in the week before last. In the two weeks preceding the last two weeks, the stock was up 7% and 4% respectively.
With this, the stock has risen 85% in this five week gaining streak. From ₹169 at the start of August, the stock has risen to levels of over ₹300 as of Friday’s trade.
Three out of those last five weeks have seen the stock gain on significantly high volumes. The last three weeks have seen weekly volumes in excess of 10 crore shares, which is higher than the average weekly volume that ranges between 2 crore to 3.5 crore shares.
This week, over 21 crore shares of the company have changed hands, higher than the 16.6 crore last week and 13 crore in the week before last. This is the highest weekly volume that the stock has seen since June this year.
Last week, the company had informed the exchanges that it has been approved as the production agency for Multi-Influence Ground Mine (MIGM) called Vighna, by the Defence Research and Development Organisation (DRDO).
Additionally, the company has also entered into an agreement with the DRDO for the transfer of technology of Omni-Directional multi-EFP warhead for the NASM-SR missile, it mentioned in the same filing on August 29.
Shares of Apollo Micro have given up gains today are trading 0.3% lower at ₹312.5.
