Apollo Micro shares are down nearly 20% over last 10 sessions; Here are the recent turn of events

Shares of Apollo Micro Systems Ltd. declined another 3% on Tuesday, and have now ended eight out of the last 10 trading sessions with losses.

The stock has declined nearly 20% during this 10-day period.

With this, the stock has now declined over 35% from its 52-week high of ₹354, which it had surged to earlier this year.

Despite the fall from its recent highs, the stock has risen 89% so far on a year-to-date basis, which will become the sixth straight year of positive returns for the stock.

In an exchange filing last week, Apollo Micro had informed that the company's shareholders had rejected their proposal for approving related party transactions.

The transactions, valued at nearly ₹500 crore, saw 99.73% of institutional shareholders vote against the proposal. The transactions were with each of the three group entities, Apollo Defence Industries, Apollo Strategic Technologies, and IDL Explosives.

Value of those transactions was nearly 90% of the audited annual consolidated revenue of the company for financial year 2025, which stood at ₹562 crore.

On December 9, the company said in a separate filing that it has entered into a strategic greenfield expansion pact with the Government of Telangana.

The proposed project will establish a state-of-the-art facility to produce and file warheads for missiles, rocket motors, small, medium and large caliber artillery systems and ammunition.

Shares of Apollo Micro Systems ended 3.3% lower on Tuesday at ₹228.2.