Multibagger stock | Defence stock | Stocks to buy today: Shares of Apollo Micro Systems Ltd are one of the multibagger stocks that the Indian stock market has produced over the years. The defence and aerospace company is in the news today for the commissioning of the Bolkunda Silo Unit, Asansol, West Bengal. The company's subsidiary IDL Explosives Limited has commissioned this new unit. The multibagger stock, which has skyrocketed from around ₹11.75 to ₹388 per share in five years, logging more than 3,200% rise, has a strong history of rewarding its shareholders through dividends and various other corporate announcements. Interestingly, experts still see upside potential in this multibagger stock and advise existing shareholders to remain invested.
The multibagger defence stock we are talking about is Apollo Micro Systems and it has declared that its subsidiary company has commissioned a new unit in West Bengal, which is expected to expand the company's Capex.
The defence company made an announcement about the capex expansion through an exchange filing on Thursday, saying, “We wish to inform you that IDL Explosives Limited (“IDL”), a group company of Apollo Micro Systems Limited, has commissioned the Bolkunda Silo Unit, a new bulk explosives silo plant with a capacity of 9,000 MT, spread over 8.4 acres of land near Asansol, West Bengal.”
As mentioned above, the defence and aerospace stock is one of the multibagger stocks in the Indian stock market. It has over 3,200% returns to its long-term shareholders in the last five years, 34% returns in one year, 40% returns in YTD, and 35% returns in six months.
The multibagger stock has remained in the base-building mode, and experts see this as an opportunity for value buying.