The Apollo Micro Systems Ltd. stock increased by almost 5% during Thursday's morning trading session, February 22. After opening at Rs. 128.95, the counter increased by almost 4.75 percent to reach an intraday high of Rs. 128.95. Apollo Micro Systems' stock, which is valued at Rs 3,585 crore, closed at Rs 123.10 during the most recent trading session.
The price increase coincides with the company's approval for a 110 crore term loan from the State Bank of India to fund the execution of its next project in Hyderabad's Hardware Park.
SBI has approved the renewal and improvement of the following credit facilities in addition to the term loan. These credit facilities will remain in effect for a full year, ending on February 8, 2025. The Inland Bank Guarantee (IBG) limit has been renewed and increased from an existing 40 crore to 50 crore, and the Cash Credit (CC) limit has been renewed and strengthened from an existing 52.50 crore to 57.50 crore. The 35 crore ceiling on inland letters of credit (ILCs) has been extended.
Amid conflicting tendencies in the global markets, the stock benchmark indices Sensex and Nifty saw erratic movement in early trade on Thursday.
Sensex became positive after starting the day slowly, rising 7.58 points, or 0.01 percent, to 72,630.67 points. However, the 30-share benchmark quickly undid the upward trend, plunging precipitously to 72,241.15 points, a loss of 381.94 points, or 0.53%.
The larger Nifty initially showed some resilience as well, but it eventually caved into the onslaught of sellers and dropped 148.40 points, or 0.67 percent, to 21,906.65 points.
