Azad Engineering shares rise 2% on Rs 53 crore BHEL contract; stock up 84% in 2026
Azad Engineering said it had been approved as a long-term source by BHEL and awarded the contract for supplying stationary and rotating airfoils, including stator vanes and rotor blades.
- Oct 13, 2026,
- Updated Oct 13, 2026 9:46 AM IST
Azad Engineering Ltd shares rose 2% in Tuesday's trade after the precision engineering company disclosed a long-term rate contract worth approximately Rs 52.68 crore from Bharat Heavy Electricals Ltd (BHEL) for the supply of critical components used in heavy-duty gas turbines.
The company said it had been approved as a long-term source by BHEL and awarded the contract for supplying stationary and rotating airfoils, including stator vanes and rotor blades. The contract is scheduled to run until October 9, 2028.
Azad Engineering shares opened at Rs 3,024.40 and touched a high of Rs 3,030, up 2.02% from the previous close of Rs 2,969.95. The stock is up 84% in 2026.
Azad Engineering: Details of the BHEL contract
The estimated value of the domestic contract is Rs 52.68 crore. The scope includes supplying critical stationary and rotating airfoils, or blades, for heavy-duty gas turbines.
Azad Engineering said it had executed a similar rate contract in May 2026 but did not disclose it at the time, as it considered the order immaterial from a business perspective. The company said the combined value and duration of the arrangement have now made the disclosure material.
The contract supports BHEL's efforts to indigenise critical gas turbine components and strengthens Azad Engineering's role in India's domestic power generation equipment ecosystem.
The company also clarified that the order was awarded by a domestic entity, that its promoter and promoter group have no interest in the awarding entity, and that the contract does not fall under related-party transactions.
Azad Engineering Ltd shares rose 2% in Tuesday's trade after the precision engineering company disclosed a long-term rate contract worth approximately Rs 52.68 crore from Bharat Heavy Electricals Ltd (BHEL) for the supply of critical components used in heavy-duty gas turbines.
The company said it had been approved as a long-term source by BHEL and awarded the contract for supplying stationary and rotating airfoils, including stator vanes and rotor blades. The contract is scheduled to run until October 9, 2028.
Azad Engineering shares opened at Rs 3,024.40 and touched a high of Rs 3,030, up 2.02% from the previous close of Rs 2,969.95. The stock is up 84% in 2026.
Azad Engineering: Details of the BHEL contract
The estimated value of the domestic contract is Rs 52.68 crore. The scope includes supplying critical stationary and rotating airfoils, or blades, for heavy-duty gas turbines.
Azad Engineering said it had executed a similar rate contract in May 2026 but did not disclose it at the time, as it considered the order immaterial from a business perspective. The company said the combined value and duration of the arrangement have now made the disclosure material.
The contract supports BHEL's efforts to indigenise critical gas turbine components and strengthens Azad Engineering's role in India's domestic power generation equipment ecosystem.
The company also clarified that the order was awarded by a domestic entity, that its promoter and promoter group have no interest in the awarding entity, and that the contract does not fall under related-party transactions.