Azad Engineering surges on inking pact with GE Steam Power GMBH
Azad Engineering is currently trading at Rs. 1614.00, up by 61.95 points or 3.99% from its previous closing of Rs. 1552.05 on the BSE.
The scrip opened at Rs. 1585.00 and has touched a high and low of Rs. 1634.95 and Rs. 1585.00 respectively. So far 27995 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2080.00 on 20-Jun-2024 and a 52 week low of Rs. 1128.40 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 1639.00 and Rs. 1508.25 respectively. The current market cap of the company is Rs. 10449.65 crore.
The promoters holding in the company stood at 60.32%, while Institutions and Non-Institutions held 22.47% and 17.21% respectively.
Azad Engineering has signed a long-term supply agreement with GE Steam Power GMBH acting through its GE Vernova Power business based in Baden, Switzerland for manufacture and supply of highly engineered and complex rotating and stationary Airfoils for advanced nuclear, industrial, and thermal power industries, meeting GE Vernova global demand in the power generation and essential industries. This current phase of the contract, valued at around Rs 452.48 crore is a robust step towards cementing its everlasting strategic relationship with GE Steam Power GMBH. The order is to be executed within 6 years.
Azad Engineering is one of the key manufacturers of its qualified product lines in the aerospace and defence, energy and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components.
