Archive · 29 Sep 2026
Azad Engineering Shares Surge as Goldman Sachs Recommends Buy
Azad Engineering makes components used in areas such as gas turbines.
Its shares rose after Goldman Sachs gave a positive view of the company.
Goldman Sachs said Azad is building new facilities to handle more business.
The bank believes demand for gas-turbine parts could grow.
It also said Azad is moving from being only a component supplier toward becoming a broader platform partner.
Azad’s large order book could provide revenue for several years.
Goldman Sachs gave the stock a 12-month price target of Rs 3,315.
The company is expanding its facilities in phases.
Azad Engineering shares rose 7.07% to reach Rs 2,918.95 on the BSE.
The stock has gained 76.73% year-to-date, according to the report.
Goldman Sachs set a 12-month target price of Rs 3,315 per share.
The brokerage said new facilities could support rising gas-turbine component demand and deepen Azad’s relationship with GE Vernova.
Azad’s expansion includes a 94,900-square-metre Phase 1 project, with Phase 2 planned to add another 67,300 square metres.
- Who
- Azad Engineering and Goldman Sachs are the main parties mentioned; GE Vernova and Baker Hughes are identified as customers connected to dedicated facilities.
- What
- Azad Engineering shares rose 7.07% after Goldman Sachs recommended buying the stock and set a Rs 3,315 target price.
- When
- The report does not specify a publication date; the target covers the next 12 months.
- Where
- The stock rose on the BSE, while the expansion is taking place at Tunikibollaram.
- Why
- Goldman Sachs cited Azad’s facility expansion, gas-turbine demand, customer relationships, product qualifications, and large order book.
- Share price high
- Rs 2,918.95 on the BSE
- Daily gain
- 7.07%
- Year-to-date gain
- 76.73%
- Goldman Sachs target
- Rs 3,315 per share over 12 months
- Phase 1 expansion
- 94,900 square metres at Tunikibollaram
- Phase 2 expansion
- A further 67,300 square metres is planned
- Dedicated facilities
- The two facilities would take Azad’s dedicated facility count to six since listing, according to Goldman Sachs