Azad Engineering Limited witnessed a 4% surge in its stock price following the announcement of a landmark long-term agreement with Rolls-Royce PLC, United Kingdom. As of 9:17 AM, the shares were trading 4.28% higher at Rs 1,537.25.
This collaboration will facilitate the production of critical civil aircraft engine components in India, enhancing the country’s position in the global aerospace supply chain.
The agreement, disclosed under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, highlights the mutual commitment of Azad Engineering and Rolls-Royce to fostering innovation and excellence in precision engineering. Although the total value of the order remains undisclosed, the strategic importance of this alliance is evident through its long-term nature.
By manufacturing these complex, super-critical machined parts in India, Azad Engineering is set to strengthen its capabilities in meeting the rigorous quality and performance standards demanded by Rolls-Royce.
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