Azad Engineering share price gained nearly 4 percent in the early trade on May 5 after the company signed an agreement with GE Steam Power GMBH for manufacturing and supply of stationary airfoils for power generation.
At 09:22am, Azad Engineering was quoting at Rs 1,610, up Rs 57.95, or 3.73 percent, on the BSE.
"... has signed a long-term supply agreement with GE Steam Power GMBH acting through its, GE Vernova Power business based in Baden, Switzerland for manufacture and supply of highly engineered and complex rotating and stationary airfoils for advanced nuclear, industrial, and thermal power industries, meeting GE Vernova global demand in the power generation and essential industries," company said in its exchange filing.
The contract valued at ~ USD 53.5 million.
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On April 29, the company inaugurated its lean manufacturing facility designed to meet capacity commitments to GE Vernova’s Steam Power Services business unit at Azad's Centre of Excellence & Innovation Centre in Tunikibollaram, Hyderabad.
The share touched a 52-week high of Rs 2,080.00 and a 52-week low of Rs 1,128.40 on 20 June, 2024 and 07 April, 2025, respectively.
Currently, the stock is trading 22.6 percent below its 52-week high and 42.68 percent above its 52-week low.
The market capitalisation stands at Rs 10,397.66 crore.
Last week, the company share price rose 3 percent, extending the gain in fourth week.
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