Azad Engineering shares today tumbled 5.73% to settle at Rs 1424.55 per share on Bombay Stock Exchange (BSE). The company operates in heavy electrical equipment industry. The market capitalisation of Azad Engineering is Rs 8420.94 crore, according to BSE. The company today bagged a purchase order from state-run Bharat Heavy Electrical Limited (BHEL) for the supply of advanced, high complex rotating airfoils for superficial turbines.
Azad Engineering shares witnessed steep decline of 15.47% in last 1-week as Sensex fell 2.22% during this time-span and BSE Industrials sector fell 8.17%. Check key details pertaining to the new order below:
Azad Engineering Wins New Order From Bharat Heavy Electrical Limited
According to the exchange filing of Azad Engineering dated January 27, 2025, “we are pleased to anDounce that AZAD Engineering has secured a purchase order from Bharat Heavy Electrical Limited (BHEL) for the supply of advanced, high-complex rotating airfoils for superficial turbines. This purchase order is a prestigious collaborative indigenization project and is the result of a collaborative evaluation and approval by the Central Electricity Authority (MiDistry of Power), National Thermal Power Corporation (NTPC), and Bharat Heavy Electrical Limited (BHEL).”
Earlier this month on January 15, 2025 the company bagged a whopping order of Rs 960 crore. As per its exchange filing, “we hereby inform you that AZAD Engineering Limited has signed a Long-Term Supply Agreement with GE VERNOVA INTERNATIONAL LLC, USA for the supply of highly engineered, complex rotating and stationary Airfoils for Advanced Gas Turbine Engines to meet their global demand in the power generation industry. This current phase of the contract, valued at – USD ($) 112 Million (INR – 960 Crores) is a robust step towards cementing our everlasting strategic relationship with GE VERNOVA INTERNATIONAL LLC, USA.”
Azad Engineering Shares Performance
The 52-week high price of Azad Engineering shares on BSE stood at Rs 2080.00 per share (as on 20/06/2024) and 52-week low price is Rs 680.55 per share (as on 29/01/2024), respectively. Azad Engineering shares dived 22.42% year-to-date (YTD) and gained 1.14% in last 3-months span. In last 6-months, Azad Engineering shares fell 11.35% and offered triple digit returns of 110.64%.
Azad Engineering About
It is one of the key manufacturers of qualified product lines in the aerospace and defence, energy and oil and gas industries. It is engaged in the manufacturing of highly engineered, complex and mission and life-critical components. Its products include 3D rotating airfoil portions of turbine engines and other critical products for defence and civil aircrafts, spaceships, defence missiles, nuclear power, hydrogen, gas power, oil and thermal power, according to its official website.
Disclaimer
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