Azad Engineering zooms on signing long term contract & price agreement with MHI
Azad Engineering is currently trading at Rs. 1523.60, up by 52.25 points or 3.55% from its previous closing of Rs. 1471.35 on the BSE.
The scrip opened at Rs. 1537.50 and has touched a high and low of Rs. 1600.00 and Rs. 1507.00 respectively. So far 53832 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1899.00 on 02-Jun-2025 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. 1600.00 and Rs. 1358.70 respectively. The current market cap of the company is Rs. 9815.78 crore.
The promoters holding in the company stood at 55.84%, while Institutions and Non-Institutions held 26.07% and 18.09% respectively.
Azad Engineering has been chosen as a single source supplier partner and signed a Long Term Contract & Price Agreement (LTCPA) for 8 years term with Mitsubishi Heavy Industries, Japan (MHI) for supply of highly engineered & complex hot-section Nozzle Vanes Segments of gas turbine engines, marking a rare achievement for any Indian precision engineering manufacturing company.
This development represents a significant leap from manufacturing compressor (cold-section) Airfoils and other turbine components to producing critical combustion hot-section turbine Nozzle Vanes Segments.
This milestone comes as part of Azad Engineering expanding partnership with Mitsubishi Heavy Industries, Japan, one of the world's leading turbine manufacturers. To support this next phase of collaboration, this commodity will be an addition in the MHI's dedicated lean manufacturing facility, designed specifically to manufacture highly engineered hot section Nozzle Vanes for advanced gas turbine platforms serving their global power generation markets.
