Azad Engineering shares crack 8% as stock worth Rs 730 crore exchanged in block deal

Azad Engineering shares have gained around 4 percent over the past year.

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26 Aug, 2025 12:21

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Shares of Hyderabad-based Azad Engineering Ltd sank eight percent in the morning session on Friday, June 6 after a block deal involving shares worth Rs 730 crore took place.

Around 48 lakh shares or seven percent equity changed hands at an average of Rs 1,640 per share via block deals. This came as a 6.5 percent discount to the previous session's closing price of Rs 1,753.6 per share on the NSE.

At 10.05 am, shares of Azad Engineering were quoting Rs 1,616.5 per share, down 7.5 percent.

During the month of May, Azad Engineering has signed a six-year long-term supply agreement with GE Vernova Power, part of GE Steam Power GmbH, to manufacture and supply precision components for the global power sector.

The contract, valued at approximately Rs 452.5 crore (around $53.5 million), covers the supply of highly engineered rotating and stationary airfoils. These components are critical for advanced nuclear, industrial, and thermal power applications and will cater to GE Vernova’s global demand from its base in Baden, Switzerland.

In January, the company announced it had penned a long-term supply agreement with US-based GE Vernova International to deliver complex rotating and stationary airfoils for advanced gas turbine engines.

In a regulatory filing, it said that this is a six-year contract worth $112 million (approximately Rs 960 crore) with GE Vernova, a significant step in strengthening its position in the advanced gas turbine engine market. These critical components aim to meet the evolving demands of the global power generation industry.

Over the past year, shares of the firm has gained around four percent. However, over the past six months, the stock has fallen eight percent.