** Shares of Azad Engineering AZAD.NS rise 3% to 1,689.60 rupees
** Precision components maker signs agreement with Pratt and Whitney Canada Corp for development and manufacturing of aircraft engine components
** Agreement establishes framework for long-term collaboration to strengthen AZAD's manufacturing capabilities in aerospace sector
** Co says contract size cannot be disclosed due to confidentiality
** AZAD down ~2% YTD
(Reporting by Vijay Malkar)
((VijayDattaram.Malkar@thomsonreuters.com;))