Apollo Micro Systems touched a day’s high of Rs 406.95 on the NSE on Wednesday, after winning a Navy order for an underwater vessel.

The order, known as a Make-II Prototype Sanction Order, covers development of a system called SAVIOR-ASW.

This stands for Semi-Submersible Autonomous Vessel for Intelligence, Operations and Reconnaissance, and is designed to track submarines and monitor underwater activity without needing any crew on board.

The vessel will use sensors to detect threats and relay information back to naval command centres from beneath the sea surface.

Apollo Micro Systems said this kind of unmanned system works out cheaper to run than traditional warships, since it needs far less manpower and upkeep.

Managing Director Baddam Karunakar Reddy said the programme would help India build its own technology to guard its maritime borders.

The company pointed out that a large share of India’s trade moves through the sea. About 68% of India’s total trade by value travels via maritime routes, and close to 42% of the world’s crude oil passes through the Indian Ocean region.

It also estimated that the global market for autonomous maritime systems could be worth around $10 billion by 2032. This isn’t Apollo’s only recent win either.

Earlier this month, the company had already picked up orders worth Rs 134.35 crore from DRDO, the Navy, other defence PSUs, a state government and some private clients, adding to its order pipeline.

At market close on 22 July, Apollo Micro Systems shares settled at Rs 404.90 on the NSE, up 3.67% from the previous close of Rs 390.55.

The stock has now gained close to 47% so far this year and remains well below its 52-week high of Rs 466.50, touched earlier this month, while far above its 52-week low of Rs 162.34 hit last July.

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