Azad Engineering shares surged 6% on January 16, 2025, following the announcement of a Long-Term Supply Agreement with GE Vernova International LLC, USA. The six-year deal, valued at $112 million (approximately INR 960 crore), cements Azad Engineering's status as a leader in precision manufacturing.
Under the agreement, Azad Engineering will provide complex rotating and stationary airfoils for GE Vernova's advanced gas turbine engines, bolstering global power generation needs. This partnership underscores Azad Engineering's capabilities in delivering top-tier components for cutting-edge gas turbines, enhancing its market position and growth prospects.
The stock opened at ₹1,682.00, peaking at ₹1,733.15 and dipping to ₹1,673.05 during the session. While the stock remains below its 52-week high of ₹2,080.00, it is significantly above its 52-week low of ₹642.40.