India, April 9 -- A small-cap defence electronics player gained market attention after its stock surged sharply, driven by a key breakthrough in indigenous naval technology development, signaling stronger growth prospects and strategic importance.

With a market cap of Rs. 7,860 crore, the shares of Apollo Micro Systems Ltd. surged 13.5 percent from day's low of Rs. 209.35 to Rs. 238 per share. The stock is currently trading at a P/E ratio of 88.

What's the news Shares of Apollo Micro Systems Limited surged nearly 14% after the company announced a key milestone in India's defense sector. It has successfully completed blast trials for Limpet Mines, which are diver-carried explosives used in naval operations.

This achievement makes Apollo...