Apollo Micro Shares Plunge 20% in 10 Sessions Amidst Shareholder Rejection

• Apollo Micro shares declined nearly 20% over the last 10 trading sessions, closing 3.3% lower on Tuesday at ₹228.2.
• The stock is down over 35% from its 52-week high of ₹354, yet remains up 89% year-to-date.
• Shareholders rejected a ₹500 crore related-party transaction proposal with Apollo Defence Industries, Apollo Strategic Technologies, and IDL Explosives.
• Institutional shareholders overwhelmingly (99.73%) voted against the proposal, which was nearly 90% of FY25's consolidated revenue.
• The company also announced a strategic greenfield expansion pact with the Government of Telangana for a new warhead and ammunition production facility.

Why It Matters: Apollo Micro's stock slump follows a major related-party deal rejection, despite a new Telangana project.