Azad Engineering shares hit 5% upper circuit on order win from Siemens Energy Global

At 11:11 am, the scrip was trading 2.6% higher at Rs 1,740 on BSE. Meanwhile, the stock has surged 36% in the last three months, while it has rallied 155% in a year-to-date.

debuted on the bourses in December last year with a 37.4% premium at Rs 720 per share, compared to the issue price of Rs 524.

The company is one of the key manufacturers of qualified product lines supplying to global original equipment manufacturers in the aerospace and defence, energy, and oil and gas industries.

It makes complex and highly-engineered precision forged and machined components that are mission and life-critical and hence, some of their products have a zero parts per million defects requirement.

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According to Trendlyne data, the target price for the stock is Rs 1750, indicating an upside potential of just 1% from the current market price. The consensus recommendation from one analyst for the stock is a 'Strong Buy'.

In technical terms, the relative strength index (RSI) of the stock is currently at 44.1. An RSI below 30 is considered oversold, and above 70 is overbought, Trendlyne data showed. Additionally, the MACD is at 78.4, which is above its center line, but below the signal line.

The stock price is higher than the 50-day, 100-day simple moving averages (SMAs). However, it is trading lower than the 5-day, 10-day, 20-day and 30-day SMAs.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of the Economic Times.)