Sachin Tendulkar backed company Azad Engineering in Hyderabad has signed a long term agreement of seven years as a producer and supplier of important engine parts to Rolls-Royce, a major British aerospace and defense company, for its military aircraft engines on Monday, January 29.
Azad Engineering shares
Following the agreement, the shares of Azad Engineering Limited surged 9 per cent to reach their all-time high in early trade.
The shares of Azad Engineering on Tuesday at 11:36 am IST were trading at Rs 836.50, up by 17.49 per cent.
In the regulatory filing submitted on Monday, Azad Engineering stated, "Pursuant to Regulation 30 of the SEBI, it is informed that Rolls-Royce has entered into a long-term contract of 7 years with Azad Engineering Limited for the production and supply of critical engine parts for their Defense/Military Aircraft engines on January 29, 2024."
About Azad Engineering
Founded in 1983, Azad Engineering operates as a manufacturer specializing in aerospace components and turbines. The company provides its products to original equipment manufacturers (OEMs) operating in the aerospace, defense, energy, and oil and gas sectors.
Azad Engineering's product line comprises highly engineered, complex, and mission-critical components that play a vital role in various applications within these sectors. The company's focus on precision and reliability reinforces its position as a significant supplier in the field.
