MTAR Tech Surges 9.5% on Bloom Energy’s Expanded Oracle Deal

Shares of Mtar Technologies Limited surged 9.50% to Rs 4,815.00 on the NSE on Wednesday, after reports emerged that key client Bloom Energy has signed an expanded fuel cell supply agreement with Oracle covering up to 2.8 GW of capacity.

According to a Reuters report, an initial 1.2 GW has already been contracted, with deployment underway and set to continue into next year. Surging electricity demand from artificial intelligence infrastructure is driving the deal, with fuel cells offering a cleaner alternative to conventional power by generating electricity through a chemical reaction.

MTAR Tech sits at the heart of Bloom Energy’s supply chain. Between 55% and 65% of the company’s revenue comes from Bloom Energy, making it the dominant client. The Hyderabad-based precision engineer is the sole supplier for Bloom Energy’s electrolyser units and also supports its solid oxide fuel cell and solid oxide electrolyser programmes. Any expansion in Bloom Energy’s order book flows directly through to MTAR.

Beyond clean energy, the firm contributes nearly 70% to the core of India’s prototype fast breeder reactor, with work value of up to Rs 1,500 crore per reactor adding a domestic nuclear energy dimension to its order pipeline.

Today’s rally pushed MTAR Tech to a fresh 52-week high of Rs 4,863.80, well above its 52-week low of Rs 1,347.80 touched in April last year. At 11:27 am on 15 April, shares were up by 9.50% at Rs 4,815.00 on the NSE. The stock has gained 41.38% over the past month, 249.38% over the past year and is up nearly 100% year-to-date.

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