Shares of Azad Engineering Ltd surged more than 7% on Monday, 05 May after the company struck an agreement with GE Steam Power GMBH to manufacture and sell stationary airfoils for power generation.

In its regulatory filing, the company said, “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.”

The contract is valued at approximately USD 53.5 million.

On 29 April 2025, Azad Engineering announced the launch of its dedicated lean manufacturing facility at its new plant located in Tunikibollaram IP, Hyderabad.

According to the company, the facility was inaugurated in the presence of GE Vernova’s senior global leadership team. It is designed to support the production and supply of precision-engineered rotating and stationary airfoils used in advanced nuclear, industrial, and thermal power turbine engines.

On 20 June 2024 and 07 April 2025, the stock reached a 52-week high of Rs 2,080.00 and a low of Rs 1,128.40.

At 12:30 pm, the shares of Azad Engineering were trading 6.38% higher at Rs 1,650.10 on NSE.

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