Apollo Micro Systems shares rise over 1% as company nears Premier Explosives deal

Apollo Micro Systems shares rose over 1 percent as the company moved closer to acquiring Premier Explosives, with Premier Explosives board scheduled to meet today. The deal would combine two Hyderabad-based defence firms, expanding Apollo Micro Systems from defence electronics and systems into explosives and propellants. Earlier this week, Apollo Micro Systems announced a Rs 3,200 crore fundraise through shares and warrants, while India's defence expenditure for 2026-27 is estimated at Rs 7.5 lakh crore.