India, March 27 -- Azad Engineering has secured a landmark contract that sets a new benchmark for Indian precision manufacturing. The shift from cold-section to highly complex hot-section parts is a significant increase in technical capability that will be hard for competitors to match.

Following the announcement, Azad Engineering which holds a market capitalization of approximately Rs 9,596 crore saw its stock momentum surge, reaching an intraday high of Rs 1,601.90 on the BSE.

News Azad Engineering rose 8.73% to Rs 1,601.90 after the company signed an 8-year long-term contract and price agreement with Mitsubishi Heavy Industries (MHI), Japan, to supply complex hot-section nozzle vane segments for gas turbine engines.

The company has...