Stock Market Today: Multibagger Azad Engineering share price gained more than 8% during the intraday trades on Thursday as it signed contract worth ₹811 crore with Siemens Energy Global GmbH & Co
Azad Engineering share price movement
Azad Engineering share price opened at ₹1457.20 on the BSE on Thursday, higher by 2.8% compared to the previous close of ₹1417..50. The Azad Engineering share price thereafter gained to highs of ₹1537.50, which translated into gains of more than 8%.
Azad Engineering share price having that used to trade at ₹660 levels at start of 2024 has risen multifold is slightly more than a year now. Azad Engineering share price thereby has given Multibagger returns to the investors.
Azad Engineering Receipt of Orders
Azad Engineering informed the exchanges on Wednesday post market hours that it has signed a long-term Contract & Price Agreement with Siemens Energy Global GmbH & Co. KG, for manufacturing and supply of mission critical components, including combustion commodities, cold blades & vanes, machined parts & assemblies.
This current phase of contract as per Azad Engineering is valued at € 90.1 million (about ₹811 Crore), which is for a time period of 6 years. This milestone as per Azad Engineering strengthens its strategic long term partnership with Siemens Energy positioning the company as a trusted supplier partner of high-performance parts for advanced turbine systems in Essential industries.
Azad Engineering on 27 January 2025 also had announced another large order win. Azad Engineering secured a purchase order from Bharat Heavy Electrical Limited (BHEL) for the supply of advanced, high-complex rotating airfoils for supercritical 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 (Ministry of Power), National Thermal Power Corporation (NTPC), and Bharat Heavy Electrical Limited (BHEL).
As per Azad Engineering these airfoils are currently imported due to their high precision and technical complexity. Azad Engineering said that it has met these stringent requirements, established itself as an import substitute.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
