Multibagger Defence Sector Stock AMS Approves Allotment of 1.65 Crore Equity Shares | Deets Inside

The board has cleared a proposal for the conversion of warrants into equity shares upon receipt of an amount aggregating to Rs 23.02 crore as a warrant exercise price.

Shares of Apollo Micro Systems are one of the multibagger stocks that have given good returns to investors. The stock traded at Rs 106.60 in the last trading session. The counter has given a positive return of 222 per cent to the investors in one year.

Meanwhile, the company has informed exchanges that its board of directors has approved the allotment of 1.65 crore equity shares on conversion of equivalent convertible warrants.

The board has cleared a proposal for the conversion of warrants into equity shares upon receipt of an amount aggregating to Rs 23.02 crore as a warrant exercise price.

“The Board of Directors of the Company, has on 03rd May, 2024, considered and approved the allotment of 1,65,06,000 (One Crore Sixty Five Lakhs Six Thousand Only) Equity Shares of Re. 1/- each, upon conversion/ exchange of/for suchnumber of Warrants,” the company said in the exchange filing.

Meanwhile, Investors’ wealth eroded by Rs 2.25 lakh crore on Friday, the day when the BSE Sensex tanked 733 points, amid profit-taking and worries over premium valuations of local stocks.

The 30-share BSE benchmark dropped 732.96 points or 0.98 per cent to settle at 73,878.15 after soaring 484.07 points earlier in the day. From its intra-day high of 75,095.18, the benchmark tanked 1,627.45 points to the day’s low of 73,467.73.

The market capitalisation of BSE-listed companies eroded by Rs 2,25,543.41 crore to Rs 4,06,24,224.49 crore (USD 4.89 trillion). From the Sensex basket, Larsen & Toubro, Maruti, Bharti Airtel, Nestle, Reliance Industries, JSW Steel, Kotak Mahindra Bank and UltraTech Cement were among the major laggards.

Bajaj Finance climbed nearly 1 per cent higher. The Reserve Bank of India (RBI) has lifted restrictions on Bajaj Finance on sanctioning and disbursal of loans through eCOM and Insta EMI Card, the company said in a regulatory filing on Thursday.

Bajaj Finserv, Mahindra & Mahindra, State Bank of India, ICICI Bank and Infosys were among the other gainers.