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Apollo Micro Systems jumped over 4 per cent on Thursday September 11 2025 as the company has informed exchanges that its subsidiary - Apollo Defence Industries Private Limited - has entered into a memorandum of understanding (MoU) with US-based firms. The stock opened at Rs 287.30 against the previous close of Rs 282.85 and then hit the intraday high of Rs 295 representing a gain of 4.29 per cent. On the National Stock Exchange (NSE) the stock opened at Rs 287.50 against the previous close of Rs 283.10. It touched the intraday high of Rs 294 and the intraday low of Rs 283.10. The 52-week high of the stock is Rs 321 hit on September 5 2025. The 52-week low is Rs 87.99. Signs MoU With US Firm The company has stated that its subsidiary has entered into a Memorandum of Understanding (MoU) with Dynamic Engineering and Design Incorporation - United States of America for the technology transfer co-development and potential licensed production of Rocket Motors for BM-21 Grad ER and Non-ER Rockets. This MoU is a strategic step toward indigenising propulsion technologies for multibarrel rocket systems and enhancing self-reliance in critical defence systems under the Make in India initiative the company said. What is Grad Rocket System The BM-21 Grad rockets remain among the most widely demanded unguided rockets in the global defence market. This is a 122 mm artillery rocket used in multi-barrel rocket launchers (MBRL). It is widely deployed for area saturation and suppression missions due to its rapid-fire capability and range of up to 40 km. Earlier the company announced the completion of its preferential allotment of equity shares and convertible warrants raising a total of over Rs 416 crore. The allotments were made to promoter group Non-Executive Director Aditya Kumar Halwasiya and LIC Mutual Fund. With PTI inputs