Apollo Micro Systems shares in focus today on MoU with IIT-Chennai, Indian Navy

Apollo Micro Systems shares are in focus today following the announcement of a memorandum of understanding (MoU) involving the company, IIT-Chennai, and the Indian Navy. The agreement aims to accelerate the development of indigenous defence technology by translating laboratory-scale research into battlefield-ready solutions.

Shares of Apollo Micro Systems closed 5% higher at ₹272.80 on Tuesday. The stock has clocked a 96.4% gain over the last six months and surged 125.9% year to date.

"The MoU focuses on addressing and solving the present and future problem statements of the Armed Forces through indigenous research and development," the company said in an exchange filing on Tuesday.

The collaboration will see Apollo Micro Systems act as the technology development and manufacturing partner, while IIT-Chennai will serve as the research anchor, focusing on generating technologies and intellectual property tailored to address complex military requirements.

The Directorate General of Naval Armament Inspection is set to provide domain expertise and operational guidance, assisting in rigorous product testing to ensure compliance with military standards.

The recent MoU announcement also coincides with Apollo Micro Systems’ ongoing strategy to extend its technological partnership with IIT-Chennai for advanced products for the Indian Army, Air Force, and space applications.

"Together, we are poised to deliver next-generation solutions that enhance national security and truly embody the spirit of 'Make in India' for the world," said Karunakar Reddy, Managing Director of Apollo Micro Systems Ltd.

The partnership is expected to focus on high-technology domains crucial for contemporary warfare, including advanced electronic warfare systems, precision guidance and control systems, and high-energy armament solutions.

"The partnership is expected to focus on high-technology areas critical to modern warfare, including advanced electronic warfare systems, precision guidance and control systems and high-energy armament solutions, and not limited to them," the company said.

Competitors in the Indian defence technology space include Bharat Electronics Limited and Data Patterns, both of which are also focusing on indigenous technology development. Implications of this alliance could extend to improved technology transfer and increased indigenous content in defence procurement.