AZAD
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Recent events
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News
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Corporate Actions
India's Azad Engineering drops after multiple block deals at discount
** Shares of Azad Engineering AZAD.NS fall 8% to 1,614.10 rupees, set to decline for second straight session
** Over 5.1 mln shares traded in 31 block deals on NSE at 1,582.4-1,698.3 rupees per share - as per data compiled by LSEG
** Block deals at 3.2%-9.8% discount to prev close of 1,753.60 rupees
** Overall trading volumes at 8.8 mln shares, nearly 25x the 30-day average
** AZAD down ~6% YTD
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of Azad Engineering AZAD.NS fall 8% to 1,614.10 rupees, set to decline for second straight session
** Over 5.1 mln shares traded in 31 block deals on NSE at 1,582.4-1,698.3 rupees per share - as per data compiled by LSEG
** Block deals at 3.2%-9.8% discount to prev close of 1,753.60 rupees
** Overall trading volumes at 8.8 mln shares, nearly 25x the 30-day average
** AZAD down ~6% YTD
(Reporting by Vijay Malkar)
(([email protected];))
India's Azad Engineering up on $53 mln contract with GE Vernova
** Aerospace and defense manufacturer Azad Engineering AZAD.NS up 4.44% to 1,621.9 rupees
** Co signs supply agreement with GE Steam Power GMBH, through its GE Vernova GEV.N Power business for manufacturing of airfoils
** Contract valued at 4.52 billion rupees ($53.5 million) for six years
** With session's gains, AZAD shares up 23.6% in the last 12 months
(Reporting by Ananta Agarwal in Bengaluru)
** Aerospace and defense manufacturer Azad Engineering AZAD.NS up 4.44% to 1,621.9 rupees
** Co signs supply agreement with GE Steam Power GMBH, through its GE Vernova GEV.N Power business for manufacturing of airfoils
** Contract valued at 4.52 billion rupees ($53.5 million) for six years
** With session's gains, AZAD shares up 23.6% in the last 12 months
(Reporting by Ananta Agarwal in Bengaluru)
Azad Engineering Completes Qualified Institutions Placement
March 3 (Reuters) - Azad Engineering Ltd AZAD.NS:
COMPLETES QUALIFIED INSTITUTIONS PLACEMENT
ALLOCATES 5.5 MILLION SHARES AT 1,280 RUPEES PER SHARE
Source text: ID:nNSE2VNLR3
Further company coverage: AZAD.NS
(([email protected];;))
March 3 (Reuters) - Azad Engineering Ltd AZAD.NS:
COMPLETES QUALIFIED INSTITUTIONS PLACEMENT
ALLOCATES 5.5 MILLION SHARES AT 1,280 RUPEES PER SHARE
Source text: ID:nNSE2VNLR3
Further company coverage: AZAD.NS
(([email protected];;))
India's Azad Engineering rises on deal with Rolls-Royce
** Shares of Azad Engineering AZAD.NS up 2.7% to 1,513.4 rupees
** Aerospace and defense parts maker signs deal with Rolls-Royce RR.L to produce civil aircraft engine parts in India
** Co says the order value is not determinable at this stage
** Stock set to snap three-session losing streak
** AZAD stock price more than doubled in 2024
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
** Shares of Azad Engineering AZAD.NS up 2.7% to 1,513.4 rupees
** Aerospace and defense parts maker signs deal with Rolls-Royce RR.L to produce civil aircraft engine parts in India
** Co says the order value is not determinable at this stage
** Stock set to snap three-session losing streak
** AZAD stock price more than doubled in 2024
(Reporting by Anuran Sadhu in Bengaluru)
(([email protected]; +91 8697274436;))
Azad Engineering Says Rolls-Royce Inks Deal With Co For Aircraft Engine Components
Feb 5 (Reuters) - Azad Engineering Ltd AZAD.NS:
ROLLS-ROYCE INKS DEAL WITH AZAD ENGINEERING FOR AIRCRAFT ENGINE COMPONENTS
Source text: ID:nBSE7kvHY3
Further company coverage: AZAD.NS
(([email protected];;))
Feb 5 (Reuters) - Azad Engineering Ltd AZAD.NS:
ROLLS-ROYCE INKS DEAL WITH AZAD ENGINEERING FOR AIRCRAFT ENGINE COMPONENTS
Source text: ID:nBSE7kvHY3
Further company coverage: AZAD.NS
(([email protected];;))
India's Azad Engineering jumps on 8.11 bln-rupee deal with Siemens Energy
** Shares of Azad Engineering AZAD.NS climb 6.1% to 1,506.1 rupees
** The aerospace and defense parts maker sign deal with Siemens Energy's ENR1n.DE unit to supply machined parts and assemblies
** Deal for 8.11 bln rupees (~$94 mln)
** About 308,000 shares traded, higher than 30-day avg of 189,908 shares
** Stock down ~13% so far in Jan, on track for biggest monthly fall since July
($1 = 86.5740 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
** Shares of Azad Engineering AZAD.NS climb 6.1% to 1,506.1 rupees
** The aerospace and defense parts maker sign deal with Siemens Energy's ENR1n.DE unit to supply machined parts and assemblies
** Deal for 8.11 bln rupees (~$94 mln)
** About 308,000 shares traded, higher than 30-day avg of 189,908 shares
** Stock down ~13% so far in Jan, on track for biggest monthly fall since July
($1 = 86.5740 Indian rupees)
(Reporting by Manvi Pant in Bengaluru)
(([email protected]; +918447554364;))
Azad Engineering Signed Long-Term Contract & Price Agreement With Siemens Energy Global GmbH
Jan 29 (Reuters) - Azad Engineering Ltd AZAD.NS:
AZAD ENGINEERING LTD - SIGNED LONG-TERM CONTRACT & PRICE AGREEMENT WITH SIEMENS ENERGY GLOBAL GMBH
AZAD ENGINEERING LTD - AGREEMENT FOR MANUFACTURING AND SUPPLY OF MISSION CRITICAL COMPONENTS
AZAD ENGINEERING LTD - CURRENT PHASE OF CONTRACT VALUED AT 8.11 BILLION RUPEES
Source text: ID:nNSE9P5Jnz
Further company coverage: AZAD.NS
(([email protected];))
Jan 29 (Reuters) - Azad Engineering Ltd AZAD.NS:
AZAD ENGINEERING LTD - SIGNED LONG-TERM CONTRACT & PRICE AGREEMENT WITH SIEMENS ENERGY GLOBAL GMBH
AZAD ENGINEERING LTD - AGREEMENT FOR MANUFACTURING AND SUPPLY OF MISSION CRITICAL COMPONENTS
AZAD ENGINEERING LTD - CURRENT PHASE OF CONTRACT VALUED AT 8.11 BILLION RUPEES
Source text: ID:nNSE9P5Jnz
Further company coverage: AZAD.NS
(([email protected];))
India's Azad Engineering rises on supply agreement with GE Vernova
** Shares of heavy electrical equipments maker Azad Engineering AZAD.NS rise 7.4% to 1,699.50 rupees in early trade
** Co signs six-year agreement with GE Vernova International to supply airfoils for advanced gas turbine engines
** Current phase of contract valued at 9.6 bln rupees ($112 mln)
** AZAD more than doubled in 2024
($1 = 86.3820 Indian rupees)
(Reporting by Vijay Malkar)
(([email protected];))
** Shares of heavy electrical equipments maker Azad Engineering AZAD.NS rise 7.4% to 1,699.50 rupees in early trade
** Co signs six-year agreement with GE Vernova International to supply airfoils for advanced gas turbine engines
** Current phase of contract valued at 9.6 bln rupees ($112 mln)
** AZAD more than doubled in 2024
($1 = 86.3820 Indian rupees)
(Reporting by Vijay Malkar)
(([email protected];))
Azad Engineering Signs Long Term Supply Agreement With GE Vernova International LLC, USA
Jan 15 (Reuters) - Azad Engineering Ltd AZAD.NS:
HAS SIGNED A LONG TERM SUPPLY AGREEMENT WITH GE VERNOVA INTERNATIONAL LLC, USA
CURRENT PHASE OF CONTRACT VALUED AT $112 MILLION
Source text: ID:nNSE4SqMpn
Further company coverage: AZAD.NS
(([email protected];;))
Jan 15 (Reuters) - Azad Engineering Ltd AZAD.NS:
HAS SIGNED A LONG TERM SUPPLY AGREEMENT WITH GE VERNOVA INTERNATIONAL LLC, USA
CURRENT PHASE OF CONTRACT VALUED AT $112 MILLION
Source text: ID:nNSE4SqMpn
Further company coverage: AZAD.NS
(([email protected];;))
Azad Engineering To Raise Funds Up To 10 Billion Rupees
Jan 3 (Reuters) - Azad Engineering Ltd AZAD.NS:
AZAD ENGINEERING LTD - TO RAISE FUNDS UP TO 10 BILLION RUPEES
Source text: ID:nNSE5MQdZf
Further company coverage: AZAD.NS
(([email protected];))
Jan 3 (Reuters) - Azad Engineering Ltd AZAD.NS:
AZAD ENGINEERING LTD - TO RAISE FUNDS UP TO 10 BILLION RUPEES
Source text: ID:nNSE5MQdZf
Further company coverage: AZAD.NS
(([email protected];))
Azad Engineering Signs Supply Agreement With Arabelle Solutions France
Nov 12 (Reuters) - Azad Engineering Ltd AZAD.NS:
AZAD ENGINEERING - SIGNED SUPPLY AGREEMENT WITH ARABELLE SOLUTIONS FRANCE
AZAD ENGINEERING- SUPPLY AGREEMENT VALUED AT $40 MILLION
Source text: ID:nNSE5h1xZp
Further company coverage: AZAD.NS
(([email protected];;))
Nov 12 (Reuters) - Azad Engineering Ltd AZAD.NS:
AZAD ENGINEERING - SIGNED SUPPLY AGREEMENT WITH ARABELLE SOLUTIONS FRANCE
AZAD ENGINEERING- SUPPLY AGREEMENT VALUED AT $40 MILLION
Source text: ID:nNSE5h1xZp
Further company coverage: AZAD.NS
(([email protected];;))
Azad Engineering Sept-Quarter Consol Net Profit 210.1 Million Rupees
Azad Engineering Ltd AZAD.NS:
AZAD ENGINEERING SEPT-QUARTER CONSOL NET PROFIT 210.1 MILLION RUPEES
AZAD ENGINEERING SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 1.12 BILLION RUPEES
Source text: ID:nNSE2Fgxh1
Further company coverage: AZAD.NS
Azad Engineering Ltd AZAD.NS:
AZAD ENGINEERING SEPT-QUARTER CONSOL NET PROFIT 210.1 MILLION RUPEES
AZAD ENGINEERING SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 1.12 BILLION RUPEES
Source text: ID:nNSE2Fgxh1
Further company coverage: AZAD.NS
India's Azad Engineering jumps on deal with Japan's Mitsubishi Heavy Industries
** Azad Engineering AZAD.NS soars 12.7% to 1,647 rupees; set for best day since Jan. 30
** Co signs contract worth 7 bln rupees ($83 mln) with Japan's Mitsubishi Heavy Industries 7011.T to supply airfoils for gas and thermal power turbine engines
** AZAD on track for sixth straight session of gains
** More than 800,000 shares traded, ~7x the 30-day avg, in stock's busiest session since July 18
** YTD, stock up ~140%
($1 = 84.0730 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
** Azad Engineering AZAD.NS soars 12.7% to 1,647 rupees; set for best day since Jan. 30
** Co signs contract worth 7 bln rupees ($83 mln) with Japan's Mitsubishi Heavy Industries 7011.T to supply airfoils for gas and thermal power turbine engines
** AZAD on track for sixth straight session of gains
** More than 800,000 shares traded, ~7x the 30-day avg, in stock's busiest session since July 18
** YTD, stock up ~140%
($1 = 84.0730 Indian rupees)
(Reporting by Dimpal Gulwani in Bengaluru)
India's Azad Engineering gains on $16 mln order from US co
** Shares of Azad Engineering AZAD.NS climb ~2% to 1,494 rupees
** Co gets ~$16 mln order from U.S.-based Honeywell Aerospace to manufacture and supply aviation-related components
** Stock more than doubles YTD
(Reporting by Kashish Tandon in Bengaluru)
** Shares of Azad Engineering AZAD.NS climb ~2% to 1,494 rupees
** Co gets ~$16 mln order from U.S.-based Honeywell Aerospace to manufacture and supply aviation-related components
** Stock more than doubles YTD
(Reporting by Kashish Tandon in Bengaluru)
India's Azad Engineering jumps after Investec starts coverage with 'buy'
** Shares of Azad Engineering AZAD.NS jump 4.6%, biggest intraday percentage gain in a month to 1577.8 rupees apiece
** Rise after Investec initiates coverage on the aerospace and defense parts supplier with "buy"
** Investec sets a target price of 1,850 rupees on AZAD, implying a 22.7% upside over the next 12 months
** AZAD is the only Indian company to offer 3D airfoils to global OEMs, underscoring industry's strong entry barriers, says Investec
** Estimates profit after tax (PAT) for AZAD to grow at 40% CAGR over fiscal years 2024-2027, helped by recent order wins, diversification and reduction in finance costs - Investec
** Adds, AZAD's performance since market debut inspires confidence
** Shares of AZAD up 206% over its issue price of 524 rupees since its listing on Dec. 28, 2023
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of Azad Engineering AZAD.NS jump 4.6%, biggest intraday percentage gain in a month to 1577.8 rupees apiece
** Rise after Investec initiates coverage on the aerospace and defense parts supplier with "buy"
** Investec sets a target price of 1,850 rupees on AZAD, implying a 22.7% upside over the next 12 months
** AZAD is the only Indian company to offer 3D airfoils to global OEMs, underscoring industry's strong entry barriers, says Investec
** Estimates profit after tax (PAT) for AZAD to grow at 40% CAGR over fiscal years 2024-2027, helped by recent order wins, diversification and reduction in finance costs - Investec
** Adds, AZAD's performance since market debut inspires confidence
** Shares of AZAD up 206% over its issue price of 524 rupees since its listing on Dec. 28, 2023
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
India's Azad Engineering climbs on order win
** Shares of Azad Engineering AZAD.NS up 3.5% to 1,759 rupees
** Stock on track for best one-day pct gain since late-June
** The engineering firm won an order from Germany's Siemens Energy Global to make critical rotating components
** Co did not disclose an order value
** Shares see busiest day in 3 weeks, with more than 462,000 shares traded
** Stock is up 141% since debut in late-Dec. 2023
(Reporting by Aleef Jahan in Bengaluru)
** Shares of Azad Engineering AZAD.NS up 3.5% to 1,759 rupees
** Stock on track for best one-day pct gain since late-June
** The engineering firm won an order from Germany's Siemens Energy Global to make critical rotating components
** Co did not disclose an order value
** Shares see busiest day in 3 weeks, with more than 462,000 shares traded
** Stock is up 141% since debut in late-Dec. 2023
(Reporting by Aleef Jahan in Bengaluru)
Azad Engineering Gets Award For Tenure Of 5 Years
July 11 (Reuters) - Azad Engineering Ltd AZAD.NS:
GETS AWARD FOR TENURE OF 5 YEARS FROM SIEMENS ENERGY GLOBAL GMBH & CO.
Source text for Eikon: ID:nBSEb1kTDp
Further company coverage: AZAD.NS
(([email protected];;))
July 11 (Reuters) - Azad Engineering Ltd AZAD.NS:
GETS AWARD FOR TENURE OF 5 YEARS FROM SIEMENS ENERGY GLOBAL GMBH & CO.
Source text for Eikon: ID:nBSEb1kTDp
Further company coverage: AZAD.NS
(([email protected];;))
Azad Engineering Signs 7 Year Contract With Steam Power Business Of GE Vernova
March 13 (Reuters) - Azad Engineering Ltd AZAD.NS:
SIGNED 7 YEAR CONTRACT WITH STEAM POWER BUSINESS OF GE VERNOVA
CONTRACT FOR SUPPLY OF HIGH-COMPLEX ROTATING AIRFOILS FOR NUCLEAR, INDUSTRIAL AND THERMAL POWER INDUSTRY
AGREEMENT VALUED AROUND USD 35 MILLION
Source text for Eikon: [ID:]
Further company coverage: AZAD.NS
(([email protected];))
March 13 (Reuters) - Azad Engineering Ltd AZAD.NS:
SIGNED 7 YEAR CONTRACT WITH STEAM POWER BUSINESS OF GE VERNOVA
CONTRACT FOR SUPPLY OF HIGH-COMPLEX ROTATING AIRFOILS FOR NUCLEAR, INDUSTRIAL AND THERMAL POWER INDUSTRY
AGREEMENT VALUED AROUND USD 35 MILLION
Source text for Eikon: [ID:]
Further company coverage: AZAD.NS
(([email protected];))
Azad Engineering Signs Another Strategic Supply Agreement With Baker Hughes
March 12 (Reuters) - Azad Engineering Ltd AZAD.NS:
SIGNED ANOTHER STRATEGIC SUPPLY AGREEMENT (SSA) WITH BAKER HUGHES
BAKER HUGHES SIGNS A 5 YEAR STRATEGIC SUPPLY AGREEMENT WITH CO
AGREEMENT TO SUPPLY MEDIUM-HIGH COMPLEX PRECISION MACHINED COMPONENTS FOR OIL FIELD SERVICES
Source text for Eikon: ID:nBSE4bNrLf
Further company coverage: AZAD.NS
(([email protected];))
March 12 (Reuters) - Azad Engineering Ltd AZAD.NS:
SIGNED ANOTHER STRATEGIC SUPPLY AGREEMENT (SSA) WITH BAKER HUGHES
BAKER HUGHES SIGNS A 5 YEAR STRATEGIC SUPPLY AGREEMENT WITH CO
AGREEMENT TO SUPPLY MEDIUM-HIGH COMPLEX PRECISION MACHINED COMPONENTS FOR OIL FIELD SERVICES
Source text for Eikon: ID:nBSE4bNrLf
Further company coverage: AZAD.NS
(([email protected];))
Azad Engineering Signs Long-Term Supply Agreement With Unit Of Baker Hughes
March 7 (Reuters) - Azad Engineering Ltd AZAD.NS:
SIGNED LONG-TERM STRATEGIC SUPPLY AGREEMENT WITH UNIT OF BAKER HUGHES
SIGNED LONG-TERM STRATEGIC SUPPLY AGREEMENT FOR SUPPLY OF HIGH-COMPLEX, CRITICAL COMPONENTS
Source text for Eikon: ID:nBSEbgstFr
Further company coverage: AZAD.NS
(([email protected];))
March 7 (Reuters) - Azad Engineering Ltd AZAD.NS:
SIGNED LONG-TERM STRATEGIC SUPPLY AGREEMENT WITH UNIT OF BAKER HUGHES
SIGNED LONG-TERM STRATEGIC SUPPLY AGREEMENT FOR SUPPLY OF HIGH-COMPLEX, CRITICAL COMPONENTS
Source text for Eikon: ID:nBSEbgstFr
Further company coverage: AZAD.NS
(([email protected];))
Azad Engineering Secured A Long-Term Strategic Supplier Agreement With Nuovo Pignone Srl
March 6 (Reuters) - Azad Engineering Ltd AZAD.NS:
SECURED A LONGTERM STRATEGIC SUPPLIER AGREEMENT WITH NUOVO PIGNONE SRL
AGREEMENT TO TRANSLATE TO BUSINESS VALUE FOR 5 YEARS, INVOLVES SUPPLY OF HIGH-COMPLEX, CRITICAL COMPONENTS FOR OIL & GAS SECTOR
Further company coverage: AZAD.NS
(([email protected];))
March 6 (Reuters) - Azad Engineering Ltd AZAD.NS:
SECURED A LONGTERM STRATEGIC SUPPLIER AGREEMENT WITH NUOVO PIGNONE SRL
AGREEMENT TO TRANSLATE TO BUSINESS VALUE FOR 5 YEARS, INVOLVES SUPPLY OF HIGH-COMPLEX, CRITICAL COMPONENTS FOR OIL & GAS SECTOR
Further company coverage: AZAD.NS
(([email protected];))
India's Azad Engineering rises as Q3 profit climbs fourfold
** Shares of Azad Engineering AZAD.NS rise 10% to 988.20 rupees
** The engineering firm posted an over fourfold rise in its Dec-quarter consol profit
** AZAD stock has risen over 10% only thrice since its listing on Dec 28
** Stock up ~46% since debut
(Reporting by Kashish Tandon in Bengaluru)
** Shares of Azad Engineering AZAD.NS rise 10% to 988.20 rupees
** The engineering firm posted an over fourfold rise in its Dec-quarter consol profit
** AZAD stock has risen over 10% only thrice since its listing on Dec 28
** Stock up ~46% since debut
(Reporting by Kashish Tandon in Bengaluru)
India's Azad Engineering rises 10% after contract with Rolls-Royce
** Shares of Azad Engineering AZAD.NS rise as much as 10.3% to 745.90 rupees, highest since listing on Dec. 28, 2023
** AZAD said it has signed a long-term contract with Rolls-Royce RR.L for supply of critical parts for military aircraft engines
** Trading volume nearly twice its 30-day moving avg
** Stock up 7.4% since listing
(Reporting by Kashish Tandon in Bengaluru)
** Shares of Azad Engineering AZAD.NS rise as much as 10.3% to 745.90 rupees, highest since listing on Dec. 28, 2023
** AZAD said it has signed a long-term contract with Rolls-Royce RR.L for supply of critical parts for military aircraft engines
** Trading volume nearly twice its 30-day moving avg
** Stock up 7.4% since listing
(Reporting by Kashish Tandon in Bengaluru)
India's Innova Captab gains 21% in market debut
** Shares of Innova Captab INNC.NS rise 21% in their market debut to 542.50 rupees
** INNC opened at a small premium of 452.1 rupees vs issue price of 448 rupees
** Pharma co's 5.7 bln rupees ($68.59 million) IPO was oversubscribed by 55.3x
** INNC is the eighth co to list this week after Muthoot Microfin MUTO.NS, Suraj Estate Developers SRAE.NS, Happy Forgings HAPY.NS, Credo Brands CREO.NS, Motison Jewellers MOTN.NS, RBZ Jewellers RBZJ.NS and Azad Engineering AZAD.NS
** Companies have raised funds worth 447.93 billion rupees in main board IPOs so far this year, down 24% from a year ago, as per NSE data
($1 = 83.1050 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Shares of Innova Captab INNC.NS rise 21% in their market debut to 542.50 rupees
** INNC opened at a small premium of 452.1 rupees vs issue price of 448 rupees
** Pharma co's 5.7 bln rupees ($68.59 million) IPO was oversubscribed by 55.3x
** INNC is the eighth co to list this week after Muthoot Microfin MUTO.NS, Suraj Estate Developers SRAE.NS, Happy Forgings HAPY.NS, Credo Brands CREO.NS, Motison Jewellers MOTN.NS, RBZ Jewellers RBZJ.NS and Azad Engineering AZAD.NS
** Companies have raised funds worth 447.93 billion rupees in main board IPOs so far this year, down 24% from a year ago, as per NSE data
($1 = 83.1050 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
India's Azad Engineering closes 29% higher in market debut
** Shares of Indian machine components maker Azad Engineering AZAD.NS close at a 29.3% premium to the issue price of 524 rupees in market debut
** Shares had opened 720 rupees, a premium of 37.4%
** AZAD's offer of fresh issue of up to 2.4 billion Indian rupees ($28.86 million) and offer for sale of 5 bln rupees was subscribed ~81 times
** AZAD, backed by the likes of former Indian cricketer Sachin Tendulkar and Indian badminton ace Saina Nehwal, is among companies which have seen premium listing in crowded IPO space in late 2023
** Azad is the seventh co to list this week after Muthoot Microfin MUTO.NS Suraj Estate Developers SRAE.NS Happy Forgings HAPY.NS, Credo Brands CREO.NS, Motison Jewellers MOTN.NS and RBZ Jewellers RBZJ.NS
** Companies have raised funds worth 447.93 billion rupees in main board IPOs so far this year, down 24% from a year ago, as per NSE data
($1 = 83.1690 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
** Shares of Indian machine components maker Azad Engineering AZAD.NS close at a 29.3% premium to the issue price of 524 rupees in market debut
** Shares had opened 720 rupees, a premium of 37.4%
** AZAD's offer of fresh issue of up to 2.4 billion Indian rupees ($28.86 million) and offer for sale of 5 bln rupees was subscribed ~81 times
** AZAD, backed by the likes of former Indian cricketer Sachin Tendulkar and Indian badminton ace Saina Nehwal, is among companies which have seen premium listing in crowded IPO space in late 2023
** Azad is the seventh co to list this week after Muthoot Microfin MUTO.NS Suraj Estate Developers SRAE.NS Happy Forgings HAPY.NS, Credo Brands CREO.NS, Motison Jewellers MOTN.NS and RBZ Jewellers RBZJ.NS
** Companies have raised funds worth 447.93 billion rupees in main board IPOs so far this year, down 24% from a year ago, as per NSE data
($1 = 83.1690 Indian rupees)
(Reporting by Sethuraman NR in Bengaluru)
(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))
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What does Azad Engineering do?
Azad Engineering Limited is one of the key manufacturers of its qualified product lines supplying to global original equipment manufacturers (OEMs) in the energy, aerospace and defence, and oil and gas industries, manufacturing highly engineered, complex and mission and life-critical components. It manufactures complex and highly engineered precision forged and machined components that are mission and life-critical and hence, some of its products have a “zero parts per million” defects requirement.It competes with manufacturers from China, Europe, USA and Japan.
Who are the competitors of Azad Engineering?
Azad Engineering major competitors are Synergy Green Inds., Sansera Engineering, Tega Industries, Shriram Pistons, Inox India, Genus Power Infra, Praj Industries. Market Cap of Azad Engineering is ₹10,656 Crs. While the median market cap of its peers are ₹10,645 Crs.
Is Azad Engineering financially stable compared to its competitors?
Azad Engineering seems to be financially stable compared to its competitors. The probability of it going bankrupt or facing a financial crunch seem to be lower than its immediate competitors.
Does Azad Engineering pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Azad Engineering latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%
How has Azad Engineering allocated its funds?
NA
How strong is Azad Engineering balance sheet?
Balance sheet of Azad Engineering is strong. It shouldn't have solvency or liquidity issues.
Is the profitablity of Azad Engineering improving?
Yes, profit is increasing. The profit of Azad Engineering is ₹86.53 Crs for TTM, ₹58.58 Crs for Mar 2024 and ₹8.47 Crs for Mar 2023.
Is the debt of Azad Engineering increasing or decreasing?
The net debt of Azad Engineering is decreasing. Latest net debt of Azad Engineering is -₹453.44 Crs as of Mar-25. This is less than Mar-24 when it was -₹79.3 Crs.
Is Azad Engineering stock expensive?
Azad Engineering is not expensive. Latest PE of Azad Engineering is 122, while 3 year average PE is 311. Also latest EV/EBITDA of Azad Engineering is 63.25 while 3yr average is 73.66.
Has the share price of Azad Engineering grown faster than its competition?
Azad Engineering has given lower returns compared to its competitors. Azad Engineering has grown at ~6.34% over the last 1yrs while peers have grown at a median rate of 29.22%
Is the promoter bullish about Azad Engineering?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in Azad Engineering is 60.32% and last quarter promoter holding is 65.9%
Are mutual funds buying/selling Azad Engineering?
The mutual fund holding of Azad Engineering is increasing. The current mutual fund holding in Azad Engineering is 7.07% while previous quarter holding is 6.21%.