Azad Engineering bags Rolls Royce Plc contract
Azad Engineering on Monday announced bagging a long-term contract from Rolls Royce PLC. The order is for the production and supply of critical engine parts for Defence / Military Aircraft engines. The contract is for seven years.
Shares of Azad Engineering shot up sharply in early trade after the company made the major announcement.
The company is not the famous British luxury car maker. That company is a subsidiary of BMW. Rolls-Royce Plc specializes in designing, manufacturing, and servicing integrated power systems for aerospace, land, and marine applications. Operating through segments like Civil Aerospace, Power Systems, and Defense, it offers engines, components, and aftermarket support for commercial and military clients globally.
Something bout Rolls Royce: Rolls-Royce Holdings plc is a British multinational aerospace and defence company incorporated in February 2011. The company owns Rolls-Royce, a business established in 1904 which today designs, manufactures and distributes power systems for aviation and other industries. The company has more than 50000 employess.
Shares of the newly listed company jumped up sharply after the announcement was made at around 12:25 pm. on 29th January eg. today Azad Engineering’s share price jumped up 10% and hit a new all-time high of Rs. 745.90. The stock made its debut on the stock exchanges on December 28 at Rs.720.
Sachin Tendulkar owns around 4.5 lakh shares of the company. VVS Laxman and Saina Nehwal are also among the shareholders of the company.
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