Shares of Azad Engineering were trading in the green and 3% higher on 14 March after the company entered into a strategic partnership with GE Vernova.

In its regulatory filing, the company said that they have entered into a strategic partnership with GE Vernova’s steam power business to supply high-complex rotating airfoils for the nuclear, industrial, and thermal power industries.

The filing added, “The transformative collaboration brings an agreement that is valued around $35 million for seven years.”

Earlier on 12 March, the company signed two agreements with Baker Hughes for a period of five years strategic supply agreement. The order is for the supply of medium-to-high complex precision machined components for oilfield services.

The company added that this contract will translate to significant business value for the next 5 years and is extendable up to three additional terms of one year.

Furthermore, last week, the company signed a long-term strategic supply agreement with a subsidiary of Baker Hughes for the supply of high-complex and critical components.

At 3:30 pm, the shares of Azad Engineering closed 0.33% higher at Rs 1,223 on NSE.