Page 5 - Azad Engineering News Today

Newly-listed Azad Engineering shares rallied 10% to hit a new 52-week high of Rs 729.4 in Mondays trade on BSE after the firm won a big order from Rolls-Royce for critical engine part supply for defence business. The stock was trading 7.6% higher at Rs 727.7 on BSE. The IPO of Azad Engineering received a good response from investors with 80.6 times subscription at close. The company is one of the key manufacturers of qualified product lines supplying global original equipment manufacturers in th...

"Strong collaboration has been at the heart of Rolls-Royces journey of success in India. As we work towards strengthening the defence ecosystem, we are happy to expand our supply chain in India in partnership with Azad Engineering," Rolls-Royce Executive Vice President Business Development and Future Programmes and Head of Global Networks, Alex Zino, said.

Under the long-term agreement, Hyderabad-based Azad Engineering will manufacture and supply complex components for defence aircraft engines and thus join the global supply chain for complex category components for Rolls-Royces technologically advanced aero-engines, the company said in a statement.

(This story has not been edited by THE WEEK and is auto-generated from a PTI

After the announcement, shares of the company hit an all-time high on the BSE on Monday at Rs 736.5 apiece.

Strategic collaboration aims to bolster Indias aerospace capabilities significantly.

India News: Sachin Tendulkar-backed Hyderabad company Azad Engineering has padded up for a seven-year innings as producer and supplier of critical engine parts t

Rolls-Royce has entered a game-changing seven-year partnership with Azad

Rolls-Royce has announced the signing of a long-term agreement with Azad Engineering to manufacture and supply complex components for defence aircraft engines.Through this strategic partnership, Hyderabad-based Azad Engineering will join the ...

Goa Carbons, Ganesh Housing, Shemaroo Entertain, Majesco L and Rane Eng Valve, hit their fresh 52-week highs during the day.