Introduction:
Leading engineering firm has secured a significant long-term supply agreement worth ₹960 crore with GE Vernova International LLC. The deal involves providing highly engineered airfoils for advanced gas turbine engines to meet global power generation demands.
Share price movement of Azad Engineering:
On January 16, 2025, Azad Engineering Ltd opened at ₹1,684.90, up 6.44% from its previous close of ₹1,582.80. The stock reached a high of ₹1,732.55 (6.01%) and a low of ₹1,666.70. By 12:03 PM, it traded at ₹1,677.85, a 6.01% increase, with a market cap of ₹9,918.27 crore.
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Azad Engineering Signs ₹960 Cr Deal:
Azad Engineering Limited has signed a significant long-term supply agreement with GE Vernova International LLC, USA, for supplying highly engineered airfoils for advanced gas turbine engines. The contract is valued at USD 112 million (₹960 crore), marking a major milestone for the company.
This deal, which spans over six years, will help meet GE Vernova’s global demand for airfoils used in power generation. The partnership strengthens Azad Engineering’s strategic relationship with the leading power industry player, emphasizing their shared commitment to meeting global energy needs.
The contract is part of Azad Engineering’s expansion into international markets, underlining the company’s expertise in delivering complex rotating and stationary components. This move further establishes the company’s position in the power generation industry, enhancing its market prospects.
Recent news on Azad Engineering:
As of November 04, 2024, Azad Engineering Ltd. announced a significant ₹700 crore long-term supply agreement with Mitsubishi Heavy Industries Ltd. to provide airfoils for advanced turbine engines, strengthening its strategic relationship with MHI in the power generation industry.
Stock performance of Azad Engineering for Period of 1 week, 6 months and 1 year:
Over the past week, Azad Engineering Ltd. has witnessed a decline of 9.57% in its stock price. However, the company has shown resilience over the last six months with a modest decrease of 2.23%. On a yearly basis, the stock has surged by an impressive 140%.
Shareholding pattern of Azad Engineering:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 65.90% | 65.90% | 65.90% |
| FII | 10% | 9.70% | 7.00% |
| DII | 5.70% | 3.40% | 5.00% |
| Public | 18.60% | 21.00% | 22.10% |
About Azad Engineering:
Azad Engineering Ltd. (NSE: AZAD) is a leading manufacturer of precision-engineered components for aerospace, defence, energy, and oil and gas sectors. The company specializes in mission-critical parts, including airfoils and engine components, for global OEMs.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
