BusinessAzad Engineering Shares Rise 85% in 6 Months; ICICI Securities Raises Target Price
Azad Engineering Ltd shares have surged 85% in six months. ICICI Securities retained its BUY rating and raised the target price from ₹1,900 to ₹3,200, based on FY29 earnings estimates and a 55x multiple. The upgrade reflects expanded manufacturing capacity, improved order visibility, and stronger earnings prospects, including new GE Vernova gas power facilities in Hyderabad.
Mint Markets··Hyderabad

