Azad Engineering Limited saw its shares rise by 3% today, trading at ₹1,460.70, following the announcement of a landmark long-term contract and price agreement with Siemens Energy Global GmbH & Co. KG. The agreement, valued at €90.1 million (₹811 crore), is set for a duration of six years and highlights Azad Engineering’s growing presence in the high-precision engineering sector.
Key Details of the Agreement:
- Contract Value: €90.1 million (₹811 crore)
- Duration: 6 years
- Scope of Work:
- Manufacturing and supply of mission-critical components, including combustion commodities, cold blades and vanes, and critical machined parts and assemblies.
This contract positions Azad Engineering as a key supplier of high-performance turbine components, further solidifying its relationship with Siemens Energy. The company emphasized that this partnership enhances its capabilities and expands its global footprint.
Additional Highlights:
- Shareholding in Siemens Energy: Nil
- Related Party Transactions: None
- Conflict of Interest/Nominees: None
Azad Engineering’s strategic collaboration with Siemens Energy marks a major milestone in its growth trajectory, underscoring its importance in essential industries like energy and precision manufacturing.
Stock Performance Overview:
- Current Price: ₹1,460.70 (+2.88%)
- Previous Close: ₹1,419.80
- Day Range: ₹1,453.95 – ₹1,498.00
- Market Cap: ₹87.97 billion
Investors are optimistic about Azad Engineering’s growth prospects given the scale and duration of this contract, driving bullish sentiment in today’s session.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Neither the author nor Business Upturn is liable for any losses arising from the use of this information.
