By Samannay Biswas
Copyright timesnownews
Shares of Apollo Micro Systems Ltd surged 4% in intraday trade on the BSE on Thursday after the defence player announced a major strategic development. The company revealed that its subsidiary, Apollo Strategic Technologies Pvt Ltd (a step-down unit of Apollo Defence Industries), signed a memorandum of understanding (MoU) with US-based Dynamic Engineering and Design Incorporation at the DSEI London expo. What’s in the MoU? The deal covers technology transfer, co-development, and potential licensed production of rocket motors for BM-21 Grad ER and non-ER rockets. These motors form the propulsion backbone of multi-barrel rocket systems. “This MoU is a strategic step toward indigenising propulsion technologies for MBRLs and strengthening self-reliance under the Make in India initiative,” the company said. Market Impact Apollo Micro Systems’ share price opened at ₹287.30, up from its previous close of ₹282.85. It hit an intraday high of ₹294, trading around ₹292.30 (+3.34%) by 12:50 pm. The stock has already surged 150% year-to-date, with a 52-week high of ₹320.75 hit on September 5. Why It Matters The BM-21 Grad rockets are among the world’s most widely demanded unguided artillery rockets. This MoU positions Apollo Group as one of the few private Indian firms developing fully in-house rocket systems, boosting India’s role in the global defence supply chain. Analysts suggest the stock could extend gains if the deal translates into long-term defence contracts, aligning with India’s push for strategic autonomy in defence manufacturing.
