Rs 3,000 crore order book: This multibagger heavy electrical equipment company bags order from Siemens Energy Global GmbH & Co. KG, Germany
The stock gave multibagger returns of 155 per cent in just 6 months whereas BSE Sensex Index is up by 11.5 per cent.
Azad Engineering Limited has secured a 5-year contract from Siemens Energy Global GmbH & Co. KG, Germany, to manufacture and supply critical rotating components for their advanced gas and thermal turbine engines on a global scale. This agreement signifies Azad Engineering's capabilities in manufacturing such crucial components and positions them as a supplier for Siemens Energy's global demands.
Azad Engineering Ltd, founded in 1983, is a manufacturer of crucial components for the aerospace, defence, energy and oil and gas industries. Their expertise lies in creating highly engineered, complex and mission-critical parts like 3D rotating airfoils and blades for turbine engines, along with other vital components for gas, nuclear and thermal turbines. They supply these precision-forged and machined parts to leading global original equipment manufacturers (OEMs) including General Electric, Honeywell International, Mitsubishi Heavy Industries, Siemens Energy, Eaton Aerospace, and MAN Energy Solutions SE.
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The company has a market cap of over Rs 10,000 crore and as of March 31, 2024, the company has an order book worth Rs 3,000 crore. In its Quarterly Results (Q4FY24) and annual results (FY24), the company reported positive numbers.
Today, shares of Azad Engineering Ltd plunged 2.66 per cent to Rs 1,695 with an intraday high of Rs 1,750 and an intraday low of Rs 1,689.25 from its previous closing of Rs 1,741.35. The stock’s 52-week high is Rs 2,080 and its 52-week low is Rs 641.95. The stock gave multibagger returns of 155 per cent in just 6 months whereas BSE Sensex Index is up by 11.5 per cent. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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