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Apollo Micro Systems gains after inking pact to acquire promoters' stake in Premier Explosives
Apollo Micro Systems added 2.75% to Rs 409.25 after the company signed a definitive share purchase agreement (SPA) to acquire a 41.33% promoters' stake in Premier Explosives for Rs 1,550 crore in an all-cash transaction.
Apollo Micro shares jump 4%, but Premier Explosives falls on ₹1,550 crore deal
The transaction will combine complementary capabilities in defence systems and energetic materials in both companies, enable operational efficiencies and enhanced R&D, bring about broader participation in defence and space-related programmes and support next-generation defence and space programs.
Apollo Micro Systems shares rally 5% on Rs 1,550 crore deal to acquire 41% stake in Premier Explosives
Apollo Micro Systems shares gained 5% after it sought to acquire Premier Explosives' promoters' stake for Rs 1,550 crore. This strategic acquisition aims to enhance capabilities in defence and aerospace sectors. The transaction is expected to conclude by December 2026 after necessary approvals. Apollo Micro Systems will also make a mandatory open offer to public shareholders. This move strengthens India's defence manufacturing and indigenous ecosystem.
Market Pulse: Key triggers to watch before the July 10 trading session
Friday is expected to be an eventful session for Indian markets, with investors set to react to TCS' June quarter earnings. Market participants will also track the impact of Apollo Micro Systems' ₹1,550-crore acquisition of a 41.33% stake in Premier Explosives.On the global front, US markets traded higher, supported by gains in semiconductor stocks and lower oil prices, although renewed tensions between Washington and Tehran kept investors cautious. Traders will also monitor the impact of lower-than-expected US jobless claims and June existing home sales data on sentiment.
India’s Apollo Micro Systems to acquire 41% stake in Premier Explosives - Investing.com Nigeria
India’s Apollo Micro Systems to acquire 41% stake in Premier ExplosivesInvesting.com Nigeria
India’s Apollo Micro Systems to acquire 41% stake in Premier Explosives - Investing.com
India’s Apollo Micro Systems to acquire 41% stake in Premier ExplosivesInvesting.com
Apollo Micro Systems to acquire 41% stake in Premier Explosives for ₹1,550 crore
Shares of Apollo Micro Systems Ltd ended 1.33% higher at ₹398.60 on the BSE, while shares of Premier Explosives Ltd closed 4.13% up at ₹714.75.
Tamil Nadu government signs MoU with Vikram Solar to set up Rs 15,037 cr BESS plant in Tirunelveli
Tamil Nadu government and Vikram Solar signed an MoU for a new plant. This facility will manufacture Battery Energy Storage Systems in Tirunelveli district. The significant investment will create over two thousand job opportunities for local residents. Vikram Solar already operates solar module manufacturing units within the state. This expansion deepens the company's commitment to green energy initiatives.
Apollo Micro Systems shares rise over 1% as company nears Premier Explosives deal
Apollo Micro Systems shares gained after reports said the company is close to acquiring Premier Explosives in a deal valued at Rs 2,300-2,500 crore. The proposed acquisition would strengthen Apollo's presence across the defence manufacturing value chain amid rising government spending and growing investor interest in the sector.
Crompton Greaves Consumer bags Rs 65-cr order from MSEDCL for solar water pumping systems
Crompton Greaves Consumer Electricals said that it has received an order worth Rs 64.99 crore from Maharashtra State Electricity Distribution Company (MSEDCL) for the supply and installation of solar photovoltaic water pumping systems.
Oswal Pumps rises after securing Rs 236 crore solar pump order from Maharashtra
Oswal Pumps climbed 4.38% to Rs 427.65 after the company received a communication from the Maharashtra State Electricity Distribution Company for an additional order to supply 10,000 Off-Grid DC Solar Photovoltaic Water Pumping Systems (SPWPS).
GK Energy secures Rs 235.92 cr order for deployment of solar-powered irrigation systems
From Maharashtra State Electricity Distribution Company