The stock of Azad Engineering rallied around 3 per cent in the Friday trading session after the firm received an order from Siemens Energy Global Gmbh and company KG, Germany.
Azad Engineering stocks trade at Rs 1,743 with 2.74 per cent gain in the afternoon session on the National Stock Exchange (NSE).
“It is informed that Azad Engineering has received an Award for a tenure of five years from Siemens Energy Global CmtH & Co. KG, Germany to manufacture and supply critical rotating components for their global demands of advanced gas and thermal turbine engines,” stated the firm in a regulatory filing.
Notably, the order is expected to be completed within five years.
Azad Engineering came with its initial public offering (IPO) in December 2023 with the issue price of Rs 524 per share. Post-listing the stock has rallied nearly 150 per cent.
