Buy Azad Engineering, target price Rs 2450: ICICI Securities

ICICI Securities has given a buy call for Azad Engineering Ltd., setting a target price of Rs 2450. The company recently reported strong quarterly results, with net profit reaching Rs 20.88 crore. This comes as the Indian government approves significant defense orders, benefiting companies like HAL and L&T, and creating opportunities for domestic players like Azad Engineering.