Share Market News: AMS Wins Drone System Order Deal From Indian Army
BSE's 30-share Sensex rose 290.46 points to 80,809.80 in early trade. The NSE Nifty rose 95.85 points to touch a record high of 24,598.
Stock Market News: Apollo Micro Systems (AMS), an aerospace and defense company, has informed exchanges that the Indian Army has awarded it the Mech II project and has selected the company based on capability.
“This project is for procurement of Vehicle Mounted Counter Swarm Drone System (VMCSDS) (Version I) under Make II category of DAP-2020. This project is very prestigious and the first Mech II project for the company. The company is pleased to state that the systems developed by it are 'state-of-the-art' and highly futuristic in nature,” Apollo Micro Systems said in a regulatory filing.
Meanwhile, the Hyderabad-based company has announced a final dividend of 5 per cent per equity share for FY2024. This face value of Rs 1 translates into 0.05 per share. “The rate takes into consideration the final dividend recommendation of 5% (0.05 paise) per equity share of Rs 1 each fully paid up by the company for the financial year 2023-24, subject to the approval of the members at the forthcoming annual general meeting of the company,” read the company's statement.
Nifty hit a fresh record high in early trade
Equity benchmark indices rose in early trade on Monday, with the Nifty hitting a new all-time high and the Sensex climbing over 290 points, helped by buying in IT stocks and fresh foreign fund inflows. The upbeat trend in equities added to the bullish global market.
BSE's 30-share Sensex rose 290.46 points to 80,809.80 in early trade. The NSE Nifty rose 95.85 points to touch a record high of 24,598.
Among the Sensex pack, HCL Technologies climbed over 3 percent as the IT services company on Friday reported a 20.4 percent rise in consolidated net profit to Rs 4,257 crore for the quarter ended June-end and guided for revenue growth of 3-5 figures. Percent on GenAI diversification and strong operational execution for FY25.
Other major winners were Ultratech Cement, Tata Motors, Maruti, NTPC, Mahindra & Mahindra, Tata Consultancy Services and Kotak Mahindra Bank. Tata Steel, Asian Paints, Power Grid and Axis Bank were the laggards. In Asian markets, Seoul and Shanghai were trading higher while Hong Kong was lower.
US markets ended in positive territory on Friday.
Also Read:
