Rs 4,500 Crore Order Book: Nuclear & Thermal Power Company signs Long-Term Contract with Nuovo Pignone Srl, a Corporation of Baker Hughes Company
The stock is up by 66.6 per cent from its 52-week low of Rs 1,128.40 per share.
AZAD Engineering Limited has signed an additional contract/amendment (No. 1) to its Strategic Supply Agreement with Nuovo Pignone Srl, a Baker Hughes company based in Italy. This amendment, valid for five years, focuses on the supply of high-complex and critical components. While the specific financial size of this new order remains undisclosed, this agreement signifies a continuation and expansion of their existing strategic partnership.
This long-term international contract is a direct amendment to the initial agreement signed on March 6, 2024. AZAD Engineering has confirmed there is no shareholding in Baker Hughes, and the agreement does not fall under related party transactions. The duration of this additional contract solidifies AZAD Engineering's role as a key supplier for Baker Hughes's critical component needs for the next half-decade.
DSIJ's 'Vriddhi Growth' service recommends long-term stocks based on Growth Investing Philosophy. If this interests you, do download the service details here.
About the Company
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.
The company has a market cap of over Rs 11,000 crore and as of September 30, 2024, the company has an order book worth Rs 4,500 crore. The stock’s 52-week high is Rs 2,080 per share and its 52-week low is Rs 1,128.40 per share. The stock is up by 66.6 per cent from its 52-week low of Rs 1,128.40 per share.
Disclaimer: The article is for informational purposes only and not investment advice.