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Apollo Micro Systems hands over safety detonation device to Indian Navy
The defense company said the handover of its indigenously developed SDD followed completion of an Indian Navy project, and it is expected to reduce procurement costs while boosting self-reliance.
Apollo Micro Systems said it has successfully handed over its indigenously developed Safety and Detonation Device, or SDD, to the Indian Navy after completing the related project, according to an exchange filing cited by LiveMint Markets.
Shares in the defense firm surged after the update, including an intraday jump that took the stock to a high of ₹391.95 on the NSE, with the move reaching more than 3% at its peak.
LiveMint Markets reports the company is among the multibaggers delivered by the Indian market in recent years, with its shares up around 125% over one year and more than 3,250% over five years.
The device is described as a critical subsystem that ensures ordnance remains safe through storage, handling, transportation, and launch, and it is also noted that before this indigenous development the Indian Navy relied on imports for the equipment. The company said the successful build is expected to lower procurement costs and enhance self-reliance for the Navy.