AZAD Engineering Ltd signs new long term contract with Mitsubishi Heavy Industries Ltd

AZAD Engineering Limited has signed a New Long Term Contract & Price Agreement (LTCPA) with Mitsubishi Heavy Industries Limited, Japan (MHI), valued at USD ($) 73.47 million (INR ~ 651 Crores) 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. This contract is incremental to last signed contract on 3rd November 2024. This Phase 2 of the contract, is a robust step towards cementing our everlasting strategic relationship with Mitsubishi Heavy Industries Limited, fapan (MHI) and with the addition of this agreement, the combined value of contract now stands at USD 156.36 million (INR ~1,387 crores).

Shares of Azad Engineering Limited was last trading in BSE at Rs. 1556.95 as compared to the previous close of Rs. 1623.95. The total number of shares traded during the day was 17226 in over 1925 trades.

The stock hit an intraday high of Rs. 1620.15 and intraday low of 1545.00. The net turnover during the day was Rs. 27106557.00.

Source : Equity Bulls

Keywords

AzadEngineering INE02IJ01035 HeavyElectricalEquipment LongTermContract MitsubishiHeavyIndustries