Azad Engineering soars on securing contract from GTRE

Azad Engineering Ltd. | Engineering - Industrial Equipments | Capital Goods & Industrial Consumables | BSE: 544061 | NSE: AZAD

24 May 2024 Evaluate

Azad Engineering is currently trading at Rs. 1426.65, up by 34.50 points or 2.48% from its previous closing of Rs. 1392.15 on the BSE.

The scrip opened at Rs. 1389.70 and has touched a high and low of Rs. 1440.05 and Rs. 1383.70 respectively. So far 10803 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1542.50 on 21-May-2024 and a 52 week low of Rs. 641.95 on 17-Jan-2024.

Last one week high and low of the scrip stood at Rs. 1542.50 and Rs. 1383.70 respectively. The current market cap of the company is Rs. 8432.47 crore.

The promoters holding in the company stood at 65.90%, while Institutions and Non-Institutions held 11.98% and 22.12% respectively.

Azad Engineering has secured prestigious nation pride contract from GTRE (Gas Turbine Research Establishment), one of the pioneering Research and Development Organisations under DRDO (Defense Research and Development Organisation) and the Ministry of Defence, Government of India, for the end-to-end manufacturing, assembly, and integration of a complete assembled Advanced Turbo Gas Generator Engine. This engine is a critical development for India and will be utilized in various defence applications. This milestone marks AZAD’s entry into propulsion systems, showcasing its growing presence and capabilities in the field.

The company will play a vital role as a single source industry Partner (IP) to GTRE for the success of this mission. The company will start delivering first batch of fully integrated Turbo Engines by early 2026.

The company has expanded its manufacturing capabilities by vertically integrating a new, highly specialized portfolio of manufacturing and assembly for the Power Generation, Aerospace & Defence and Oil & Gas sectors. This vertical integration and enhancement in capability enables AZAD to offer end-to-end manufacturing for a complete, assembled Advanced Turbo Engine, creating massive opportunity to build capability for a compete propulsion systems solution for the Nation & Global Defence requirements.

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.

Azad Engineering Share Price

2234.00 39.50 (1.80%)

07-May-2026 14:44 View Price Chart

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