Apollo Micro Systems hit an intraday high of Rs 411.60 on 29 June, up 7%, on reports that BEL may bag a Rs 30,000 crore QRSAM missile order.

The programme in question is called QRSAM, short for Quick Reaction Surface-to-Air Missile. Without getting too technical, it is a missile system built to detect and destroy fast-moving aerial targets like fighter jets and drones.

The Indian government developed it for the Army, and BEL is the primary contractor building it. Apollo Micro Systems sits one level below BEL in the supply chain.

It supplies on-board computers and navigation systems to BEL for the QRSAM programme, which means a large order flowing to BEL translates directly into fresh work for Apollo.

Bharat Dynamics Limited is the other main contractor, and Apollo supplies to them as well. The trigger for today’s rally was a report citing BEL management’s interaction with Kotak Securities.

BEL management expects the Rs 30,000 crore QRSAM order to receive government approval within the next few weeks. There is a second update worth noting.

Apollo told exchanges that its board will meet on 6 July 2026 to consider raising funds by issuing fresh equity shares or convertible securities including warrants on a preferential basis.

The outcome will be known after the board sits. Apollo’s consolidated order book stood at Rs 1,432 crore at the end of FY26.

The company’s full-year FY26 performance adds further colour: consolidated net profit surged 91% YoY to Rs 107.38 crore, while net sales jumped 61% to Rs 904.32 crore.

At 14:32 pm, shares of APOLLO were trading at Rs 406.45 on NSE, up by 5.74% from the previous close.

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