Azad Engineering Shares Surge Nearly 4% After GE Vernova Contract Win

Market Performance

Azad Engineering shares climbed sharply in early trade on May 5, gaining close to 4% after the company announced a significant contract with GE Vernova.

• Current Price (as of 09:22 AM): ₹1,610
• Change: +₹57.95 (+3.73%)
• Market Capitalisation: ₹10,397.66 crore

The stock has been displaying strong movement recently:

• 52-week High: ₹2,080 (June 20, 2024)
• 52-week Low: ₹1,128.40 (April 7, 2025)
• Current Level: 22.6% below the 52-week high
• Above 52-week Low by: 42.68%

Azad Engineering shares rose 3% last week, marking the fourth consecutive week of gains.

Significant Development: GE Vernova Contract

Azad Engineering's share price surge follows the company's announcement of a long-term supply agreement with GE Steam Power GMBH, part of GE Vernova.

Under this agreement:

• Azad will manufacture and supply complex rotating and stationary airfoils
• These components are critical for advanced nuclear, thermal, and industrial power generation
• The contract is valued at approximately USD 53.5 million

The contract aims to meet GE Vernova's global demand for engineered components in power generation and essential industry sectors.

Company Operations and Expansion

On April 29, Azad Engineering inaugurated a new lean manufacturing facility at its Centre of Excellence & Innovation Centre in Tunikibollaram, Hyderabad.

This facility is specifically designed to handle production capacity for GE Vernova's Steam Power Services business unit.

Summary

Azad Engineering shares have reacted positively to the new partnership with GE Vernova, reflecting investor confidence in the company's strategic growth. With a USD 53.5 million deal and an expanded production facility, the company appears well-positioned to scale operations and drive further momentum in the power engineering sector.