3 days ago
Azad Engineering Shares Rally 86%; Experts Assess Further Upside
Azad Engineering’s shares have risen sharply in recent months.
They gained about 86% over six months.
The stock fell nearly 3.5% on Thursday after reaching a new 52-week high.
This drop may reflect short-term profit-taking or consolidation after the rally.
The company recently opened two manufacturing facilities in Hyderabad for GE Vernova’s gas power business.
Analysts also pointed to strong orders in aerospace, defense, and energy.
The stock remains above its key moving averages, which signals a strong upward trend.
However, analysts said ₹3,000–₹3,150 could be a difficult zone to cross, while ₹2,661 may provide support.
Azad Engineering shares have gained nearly 86% over six months and 6.7% in one week.
The stock ended nearly 3.5% lower on Thursday, October 1, after reaching a fresh 52-week high.
The rally has been supported by new Hyderabad manufacturing facilities for GE Vernova’s gas power business.
Analysts cited a growing order book across aerospace, defense, and energy, alongside stronger revenue and operating margins.
Technical analyst Mayank Jain identified resistance at ₹3,000–₹3,150 and short-term support near ₹2,661.
- Who
- Azad Engineering Limited and market analyst Mayank Jain of Share.Market by PhonePe.
- What
- Azad Engineering shares rose nearly 86% in six months before entering a short-term consolidation phase after reaching a fresh 52-week high.
- Where
- The company’s two new manufacturing facilities are in Hyderabad.
- When
- The stock ended lower on Thursday, October 1, after reaching the high on Wednesday; the article also reports six-month and one-week returns.
- Why
- The rally was attributed to strategic business expansion, new facilities for GE Vernova’s gas power business, a growing long-term order book, and strong financial execution.
Key facts
- Six-month return
- Nearly 86%
- One-week return
- Nearly 6.7%
- Thursday performance
- Closed nearly 3.5% lower
- Recent high
- Nearly ₹3,128
- Resistance zone
- ₹3,000–₹3,150
- Short-term support
- ₹2,661, around the 50-day moving average
- Moving averages
- 50-day EMA ₹2,661.70; 100-day EMA ₹2,457.30; 200-day EMA ₹2,191.50
Quotes
Mayank Jain
Market Analyst at Share.Market by PhonePe
“Following a sharp climb to an all-time high near ₹3,128.00, price action has entered a short-term consolidation phase, currently trading around ₹2,865.00. Immediate overhead resistance remains defined by the ₹3,000.00 to ₹3,150.00 swing peak zone, while the ₹2,661.00 level offers dynamic short-term downside support at the 50-day moving average.”
livemint.com
“The company's growing order book across long-term contracts in the aerospace, defense, and energy sectors provides multi-year revenue visibility and continues to strengthen investor confidence. Financial execution has remained strong, characterized by robust top-line expansion year-on-year alongside expanding operating margins.”
livemint.com
Sources
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