The move came a day after Azad Engineering announced the inauguration of two new facilities at its Centre of Excellence & Innovation Centre in Tunikibollaram, Hyderabad, taking the number of dedicated manufacturing facilities for GE Vernova to three.
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New facilities strengthen GE Vernova partnership
The latest expansion gives Azad Engineering a larger dedicated manufacturing footprint for GE Vernova, with the two new facilities each spanning 7,600 sq m.According to the company’s exchange filing, the facilities will manufacture highly engineered rotating and stationary airfoils as well as specialised machined parts. These products will cater to GE Vernova’s global demand in the power generation and essential industries.
The development is significant for Azad Engineering as it expands its dedicated manufacturing presence for a global energy major. Rather than being a standalone capacity addition, the company is positioning the new facilities specifically around GE Vernova’s requirements.
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Three dedicated facilities now operational
The two facilities were inaugurated at Azad Engineering’s Centre of Excellence & Innovation Centre on September 28. With their addition, the company now has three dedicated facilities serving GE Vernova’s Gas Power business.The company said the new facilities are designed to meet GE Vernova’s global demand, highlighting the role of the Hyderabad manufacturing base in supporting the energy major’s requirements.
Azad Engineering shares have been closely watched after a strong run in recent months, and Tuesday’s sharp move comes as investors assess the significance of the expanded manufacturing relationship.
The stock was trading at Rs 2,989, up 9.76% on Tuesday afternoon. It had risen to an intraday high of Rs 2,995, compared with the day’s low of Rs 2,751.10.
Disclaimer: This article has been written by Sakshi Kumari, who is not a SEBI-registered Research Analyst or an Investment Adviser. Sakshi Kumari and her ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here.
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