FII raises stake in this multibagger defence stock. Details here
Apollo Micro Systems Ltd are one of the multibagger stocks that the Indian stock market has delivered in recent years. However, it seems that foreign institutional investors (FIIs) still see some upside in this defence share. As per the shareholding pattern of Apollo Micro Systems Ltd for the recently ended December 2023 quarter, FIIs are owning 11.01 percent stake in this multibagger defence stock.
However, in their previous shareholding pattern shared in November 2023, FIIs were holding a 10.16 percent stake in this company. This means, FIIs raised a stake in this defence stock during Q3FY24. In its latest shareholding pattern for Q3FY24, which is available on the BSE website, FIIs are shown to hold an 11.01 percent stake in this multibagger defence stock.
Out of this 11.01 percent stake, Category I FIIs holds a 4.28 percent stake whereas Category II FIIs own a 6.73 percent stake in this defence stock. Earlier, the defence company had informed Indian bourses in November 2023 that FIIs own a 10.16 percent stake in the company. Out of these 10.16 percent, Category I FIIs held 4.42 percent while Category II FIIs owned a 5.74 percent stake in the company.
The November 2023 shareholding pattern was shared on the BSE website on 23rd November 2023. This means, that FIIs raised a stake in this defence company in the last one month of the third quarter of the current fiscal. This rise in FIIs' shareholding is due to the fresh buying being done by the Category II FIIs.
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