Wednesday, November 29

Apollo Micro Systems Shares Hit Upper Circuit Limit – The Daily Connection

The circuit limits range from 2 to 20 per cent, depending on the liquidity, volume and category of the stocks.

Multibagger Stock: Apollo Micro Systems Shares Hit Upper Circuit Limit
Image for representational purposes

Stock Market News: Apollo Micro Systems shares today jumped 10 per cent to get locked in the upper circuit limit. The stock was off to a positive trade in early morning deals. It was later locked in the upper circuit limit at Rs 133.40.

The circuit limits range from 2 to 20 per cent, depending on the liquidity, volume and category of the stocks. Both the upper and lower circuit limits for each stock is defined by the exchanges.

Am upper circuit is a limit or the maximum percentage jump in a stock’s price in a single trading session. As per the rule, when a stock hits its upper circuit, trading is suspended in in the current trading session or until it is revised by the exchanges.

Last week, Apollo Micro Systems Limited, an aerospace and defense company, has declared its earnings for the quarter that ended on September 30, 2023. It said that the profit more than doubled led by aided by higher income.

The Hyderabad-based company which offers technology-based solutions in sectors like infrastructure, transportation, and aerospace and defence, said that its standalone net profit during the September quarter doubled to Rs 7 crore. It reported a total income of Rs 87.57 crore, which is around 50 per cent up from Rs 52.39 crore reported during a year ago.

The expenses in quarter were Rs 78.68 crore against Rs 47.47 crore in the year-ago period.

The company added that its revenue from operations surged more than 55 per cent to Rs 87.16 crore from Rs 56.27 crore in the year-ago period. In the first quarter of the current financial year, the company’s revenue was seen at Rs 57.69 crore.