New Delhi, July 28 -- Multibagger defence stock Apollo Microsystems share price fell over 3% on the NSE in Tuesday's trading session. The defence stock opened at Rs.391.60 apiece today, as compared to the previous close of Rs.392.95 on Monday.

The fall in the stock came despite the company announcing that it has been shortlisted and empanelled by the Indian Air Force (IAF) as a Prime Development Agency (DA).

According to the exchange filing, Apollo Microsystems said that it has been shortlisted for the Indigenous Precision Range Extension Kit (IPREK) programme, under the Make-II (Industry Funded) category of India's Defence Acquisition Procedure 2020 (DAP-2020).

This empanelment marks AMS's entry into India's precision guided munition ...