Apollo Micro Systems shares rally 5% on acquiring stake in Premier Explosives worth ₹1,550 crore

Apollo Micro Systems shares surged as much as 5% to an intraday high level of ₹418.20 apiece on Friday, July 10, after the defence tech firm acquired stake in Premier Explosives.

Meanwhile, Premier Explosives shares slipped 3.5% to an intraday low of ₹688.95 apiece. The stock had, however, touched an intraday high of ₹724.30 per share on Friday.

The Hyderabad-based company, in a regulatory filing, said it will acquire promoter shares of 41.33% in Premier Explosives in an all-cash deal. The transaction is expected to close in the December quarter of the current fiscal year (Q3 FY27), subject to customary closing conditions, regulatory approvals, shareholder approval and more.

Following completion, Premier Explosives will come under Apollo Micro Systems and will continue to operate under its existing brand, with scaled performance.

“This acquisition strengthens our nation's defence manufacturing capability and deepens our sovereign expertise in energetic materials and space programmes. Together, we are better positioned to safeguard national security interests and support our armed forces with greater scale, resilience, and technological self-reliance,” said Baddam Karunakar Reddy, Managing Director at Apollo Micro Systems.

The transaction combines complementary capabilities in defence systems and energetic materials, enabling operational efficiencies, enhanced R&D, and broader participation in defence and space-related programmes.

As a defence technology firm, Apollo Micro Systems specialises in the design, development, and manufacture of advanced electronic, electro-mechanical, and engineering systems. On the other hand, Premier Explosives is a manufacturer of high-energy materials for defence, aerospace and mining sectors. The company undertakes operation and maintenance (O&M) services of solid propellant plants at the Sriharikota Centre of ISRO and Solid Fuel Complex at Jagdalpur.

“The decision to bring Premier Explosives into the Apollo Micro Systems family reflects our shared vision of building a stronger, more integrated indigenous defence and aerospace ecosystem,” said Dr A N Gupta, Founder and Chairman at Premier Explosives.

Share price trends

At 12:08 PM, Apollo Micro Systems shares were trading at ₹410.55 apiece on the National Stock Exchange, rising 3.08%. At the same time, Premier Explosives shares were seen at ₹693.45 apiece, falling 2.88%.

Since the beginning of the year, Apollo Micro Systems shares have soared nearly 49%, and its market capitalisation stands at ₹14,649.52 crore.

Meanwhile, Premier Explosives, with a market capitalisation of ₹3,728.07 crore, has climbed 34% so far since the beginning of 2026.