Azad Eng on a roll!

Azad Engineering is doing well even in this manic Monday market. The stock opened almost 7% higher at Rs.1560.05, rising to Rs.1670, up over 14%. Its 52-week high is at Rs.2080.

The stock is up after it reported having secured an order worth Rs.700. crore. This order is from

Mitsubishi Heavy Industries Limited, Japan (MHI).

This is for supply of highly engineered & complex rotating and stationary Airfoils for Advanced Gas & Thermal power turbine engines to meet their global demand in the power generation industry.

It is a long term contract to executed over 5-years.

Last month, the company had got an order from Honeywell Aerospace for high-precision components, worth Rs.134 crore.

The company got listed in Dec’23 and IPO was priced at Rs.524.