Azad Engg zooms 25% in 2 days on signing 7-year contract with Rolls-Royce

Rolls-Royce signed a long term contract of seven years with AEL to produce/supply critical engine parts for their Defence / Military Aircraft engines

Shares of Azad Engineering (AEL) hit a new high of Rs 842.60 as they rallied 18 per cent on the BSE in Tuesday's intraday trade amid heavy volumes, in an otherwise range-bound market.

In the past two days, the stock has zoomed 25 per cent after the company, on Monday, announced that Rolls-Royce has signed a long term contract of seven years with AEL to produce/supply critical engine parts for their Defence / Military Aircraft engines.

At 11:03 AM, AEL was trading 17.6 per cent higher at Rs 837.20 as compared to 0.29 per cent decline in the S&P BSE Sensex. Average