Goldman Sachs Pumps Up Azad Engineering Stock with ₹3,315 Price Target
Azad Engineering's shares have continued to soar in 2026, reaching an impressive 82% gain after Goldman Sachs reiterated its positive stance on the stock.
The brokerage firm maintained its 'buy' rating on Azad Engineering with a price target of ₹3,315 per share, indicating an upside potential of 22% from its previous closing price.
Goldman Sachs highlighted the significance of the facilities inaugurated by Azad Engineering for GE Vernova, citing the gas turbine expansion as a key medium-term growth driver for the company.
The two new facilities, each worth 7,600 square meters, are dedicated to manufacturing highly engineered rotating and stationary airfoils and specialized machined parts to meet GE Vernova's global demand in the power generation and essential industries segment.
Azad Engineering recently reported its first quarter earnings, with a net profit of ₹35.7 crore, up 20.2% from last year, and revenue of ₹172.5 crore, up 26% from the previous year.