Latest news with #GESteamPowerGMBH
Business Standard
05-05-2025
- Business
- Business Standard
Azad Engg spurts after inking $53.5 million deal with GE Steam Power
Azad Engineering rallied 7.27% to Rs 1,664.90 after the company signed an agreement worth $53.5 million with GE Steam Power GMBH for the manufacturing and supply of stationary airfoils for power generation. Under the six-year contract, Azad Engineering will manufacture and supply highly engineered and complex rotating and stationary airfoils for advanced nuclear, industrial, and thermal power industries. Azad Engineering is engaged in the manufacturing of precision forged and machined components for clean energy, aerospace, defense, oil and gas, and standalone power supply (SPS) as required by OEMs with its manufacturing unit in Hyderabad. The companys consolidated net profit jumped 42.3% to Rs 23.92 crore on a 35% increase in net sales to Rs 120.48 crore in Q3 FY25 over Q3 FY24.
Mint
05-05-2025
- Business
- Mint
Azad Engineering share price rises 5% as it signs ₹452 crore pact with GE Steam Power-GMBH
Stock Market Today: Azad Engineering share price gained 5% in the morning trade on Monday, May 5, after the company announced signing a ₹ 452 crore pact with GE Steam Power-GMBH over the weekend. In its intimation to the exchanges, Azad Engineering said that it has signed a long-term supply Agreement with GE Steam Power GMBH, acting through GE Vernova, its power business based in Baden, Switzerland. The pact, as per Azad Engineering, is for the manufacture and supply of highly engineered and complex rotating and stationary airfoils for advanced nuclear, industrial and thermal power industries, meeting GE Vernova's global demand in the power generation and essential industries. The period in which the order is to be executed, as specified by Azad Engineering in its release, stands at 6 years. This current phase of the contract, as per Azad Engineering, is valued at approximately $53.5 million, which translates to around ₹ 452.48 crore. Azad Engineering said that it is a robust step towards cementing our everlasting strategic relationship with GE Steam Power GMBH. Azad Engineering remains in the news as a few days earlier, on April 29, 2025, Azad Engineering had announced the inauguration of a lean manufacturing facility. The exclusive lean manufacturing facility is at Azad Engineering's new plant in Tunikibollaram IP, Hyderabad. The facility was inaugurated in the presence of GE Vernova's senior global leadership team, Azad Engineering had said. This facility will serve and support the supply of highly engineered and complex rotating and stationary airfoils for advanced nuclear, industrial and thermal power turbine engines. Azad Engineering share price opened at ₹ 1585, on the BSE on Monday. At the time of opening, Azad Engineering share price was up 2% over the previous day's closing price of ₹ 1552.05. The small-cap stock thereafter gained to intraday highs of 1634.95, which translated into gains of more than 5% during the intraday trades.
Business Upturn
05-05-2025
- Business
- Business Upturn
Azad Engineering shares jump 4% on Rs 452.48 crore long-term supply agreement with GE Steam Power GMBH
Azad Engineering shares surged by 4% in morning trade following the announcement of a significant milestone. The company has entered into a Long Term Supply Agreement with GE Steam Power GMBH, part of GE Vernova Power in Switzerland. This partnership involves the manufacturing and supply of intricate rotating and stationary airfoils for the nuclear, industrial, and thermal power sectors. The current phase of the contract is valued at approximately USD 53.5 million (Rs 452.48 crore), aimed at fulfilling GE Vernova's global demands within power generation and essential industries. In addition, Azad Engineering has inaugurated a state-of-the-art 7,600 sq. meter lean manufacturing facility in Tunikibollaram, Hyderabad. This new Centre of Excellence & Innovation Centre will support GE Vernova's Steam Power Services, marking a crucial step in strengthening their long-term collaboration. The facility's launch was attended by senior leaders from both companies, including Azad Engineering's Chairman and CEO, Rakesh Chopdar. Azad Engineering shares are currently trading at ₹1,585.00, with a high of ₹1,649.90 and a low of ₹1,582.00 for the day. The stock has seen a 52-week high of ₹2,080.00 and a 52-week low of ₹1,159.45. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
