Sachin Tendulkar-Backed Small Cap Stock Jumps 4% On Bagging Siemens Order

Shares of Azad Engineering rose 4% on Friday morning after the company was awarded a five-year order by a Siemens entity in Germany.

What Happened: The company, which counts Sachin Tendulkar as an investor, said the award from Germany-based Siemens Energy Global is for manufacturing and supplying critical rotating components for its global demands of advanced gas and thermal turbine engines. 

Azad Engineering is engaged in the construction of aerospace components and turbines. The company supplies its products to original equipment manufacturers (OEMs) across the aerospace, defence, energy and oil and gas industries.

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In its March quarter results, the company posted a net profit of ₹14.92 crore, growing slightly from ₹14.82 crore in the same quarter of the previous year. Its revenue rose to ₹92.79 crore from ₹84.91 crore.

Tendulkar had invested ₹4.9 crore in the company owning 4.38 lakh shares at an average price of ₹114.10. The other famous owners in the stock are Saina Nehwal, PV Sindhu and VVS Laxman. 

Price Action: Shares of Azad Engineering rose 4.77% to ₹1,778 on Friday morning session. Since the company's shares were listed at ₹720 on December 2023, the share price has gone up 162%. 

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