Shares of Azad Engineering Ltd hit a 5% upper circuit on 12 July after the company announced securing a new order from Siemens Energy Global CmtH & Co. KG, Germany. 

In its regulatory filing, the company said, “It is informed that Azad Engineering Limited has received an Award for a tenure of 5 years from Siemens Energy Global CmtH & Co. KG, Germany to manufacture and supply critical rotating components for their Global demands of Advanced Gas & Thermal Turbine Engines.”

The scope of the order entails manufacturing and supplying critical rotating components for Siemens Energy’s global demands of advanced gas and thermal turbine engines.

Earlier on 23 May, the company announced securing a prestigious national pride contract from GTRE [Gas Turbine Research Establishment)  for the end-to-end manufacturing, assembly, and integration of a completely assembled Advanced Turbo Gas Generator Engine.

This engine is a very crucial development for the country and will be used in various defence applications. 

The company has also expanded its manufacturing capabilities by vertically integrating a new, highly specialised portfolio of manufacturing and assembly for the Power Generation, Aerospace & Defence and Oil & Gas sectors. 

Established in 1983, the company specialises in manufacturing aerospace components and turbines for diverse industries, which include defence, energy, aerospace, and oil and gas. 

At 11:47 am, the shares of Azad Engineering were trading 3.35% higher at Rs 1,754 on NSE.