Azad Engineering share price jumps 7.7% on ₹452 crore order from GE Vernova

Shares of Azad Engineering jumped over 7% on Monday after the company announced a major order win from GE Vernova. The shares traded 7.7% higher on the NSE at ₹1,659 apiece.

Azad Engineering 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. This current phase of the contract, valued at around ₹452.48 crore, is a robust step towards cementing its everlasting strategic relationship with GE Steam Power GMBH. The order is to be executed within 6 years.

Azad Engineering is one of the key manufacturers of its qualified product lines in the aerospace and defence, energy and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components.