Apollo Micro Systems Share Price Jumped 7% Today
[[Apollo Micro Systems Ltd.’s]] share price saw a significant jump of over 7% on Wednesday. This surge follows the company’s announcement of a substantial increase in net profit during the October-December period. The company’s consolidated net profit rose by an impressive 83.5% year-on-year, reaching Rs 18.3 crore, up from Rs 10 crore in the same period last year. This positive news has excited investors and contributed to the stock’s upward movement.
Strong Financial Performance Boosts Investor Confidence
The company’s consolidated topline also witnessed significant growth, rising by 62.5% to Rs 148 crore compared to Rs 91.3 crore in the corresponding period of the previous financial year. This robust revenue growth, combined with the surge in net profit, paints a picture of a company performing well. Furthermore, Apollo Micro Systems’ operating profit increased by 58.1% to Rs 37.9 crore compared to Rs 24 crore. While the margin for the third quarter stood at 25.6%, slightly lower than the 26.3% recorded in the same period last year, the overall financial performance remains strong.
Market Analysis and Stock Performance
The share price of Apollo Micro Systems rose by 7.43% to reach Rs 138.00, its highest level since February 1st. Later in the day, the stock pared some gains but still traded 3.98% higher at Rs 133.77 apiece. This positive momentum continued for a second consecutive day. It’s worth noting that the stock’s 52-week high is Rs 157, reached on January 21st, while its 52-week low stands at Rs 87.99, recorded on October 23, 2024. Over the past 12 months, the stock has shown a gain of 4.21%.
Trading Volume and Technical Indicators
The total traded volume for the day was 1.1 times its 30-day average, suggesting increased investor interest. The relative strength index (RSI) stood at 55.61, indicating a moderately positive momentum. According to market data, the single analyst currently tracking the company maintains a ‘buy’ rating on the stock, further reinforcing the positive outlook. This combination of strong financial results and positive technical indicators makes Apollo Micro Systems a stock to watch in the current market.
Latest Updates on the Indian Stock Market
The broader Indian stock market, represented by indices like the Nifty and Sensex, initially saw gains but later retreated from their highs. Factors such as the performance of major companies like Asian Paints and ONGC influenced the overall market trends. This latest news highlights the dynamic nature of the stock market and the various factors that can impact its performance.
