Multibagger Defence & Aerospace Company Secures Indian Navy Make-II Prototype Sanction Order; Share Price Jumps 3%

Apollo Micro Systems received a Make-II Prototype Sanction Order from the Indian Navy to develop the SAVIOR-ASW autonomous underwater surveillance system.

SAVIOR-ASW is India's first indigenously developed semi-submersible autonomous vessel for Anti-Submarine Warfare (ASW) surveillance.

The order marks Apollo Micro Systems' entry into autonomous maritime and underwater warfare systems.

The project supports India's need for persistent underwater surveillance in the Indian Ocean Region, where 95% of India's trade by volume moves through sea routes.

Apollo's share price rose 3.01% to Rs 402.30 following the announcement.