Mumbai, June 12, 2026, 13:52 IST
- MTAR Technologies bounced after its management said Bloom Energy hadn’t sent any word about a project pause.
- Black Hills Corp. said the 1.8-gigawatt Cheyenne data center project is still on schedule and set to go into service in early 2028. The company said it hasn’t been paused.
- Import-duty relief for nuclear parts and a firmer Indian market lifted buying in MTAR and peer engineering names.
MTAR Technologies Ltd. stock jumped Friday, clawing back some losses from a sharp two-day drop as investors took another look at worries over a U.S. data-centre project tied to major customer Bloom Energy. The NSE-listed shares traded at ₹7,113.50, up 12.81%, as of 1:33 p.m. IST, after opening at ₹6,666.50 and hitting a high of ₹7,170 in the session, Google Finance showed.
MTAR shares bounced 13% to ₹7,119 at 1:15 p.m., Moneycontrol reported, a day after dropping over 11%. The move came after management said MTAR hadn’t got any word from Bloom Energy about a data-centre project pause. “There are no delays as far as we are concerned. We remain completely on track,” Managing Director Srinivas Reddy told CNBC-TV18. Moneycontrol
Black Hills Corp. issued its latest update on the Cheyenne, Wyoming project. The utility said work is ongoing on the 1.8-gigawatt data center plan and it’s still coordinating directly with the potential large-load customer. Service is on track to start in early 2028. Crusoe is no longer the development partner, but Black Hills CEO Linn Evans said, “The 1.8-gigawatt project has not been paused and continues to represent a significant opportunity for the company.” GlobeNewswire
MTAR shares were under pressure earlier this week after its links with U.S. fuel-cell player Bloom Energy came into focus. Business Standard said MTAR makes and supplies key hot box assemblies for Bloom’s fuel-cell systems. Investors watched the Wyoming project after word that some of its power could come from Bloom’s technology.
MTAR’s stock keeps reacting to news from Bloom. Around 55–65% of MTAR’s yearly revenue comes from selling solid oxide fuel cells and solid oxide electrolyser products to Bloom Energy, Moneycontrol reported. Any signs that Bloom’s deployment pipeline could slow down turn into a problem for MTAR investors right away. The story also pointed out Bloom’s recent move to expand its deal with Oracle, boosting fuel-cell capacity from 1.2 GW to 2.8 GW. Motilal Oswal analysts told Moneycontrol that the bigger Oracle tie-up could mean ₹1,400 crore to ₹1,700 crore more orders for MTAR.
India’s nuclear-power policy helped stocks on Friday. NDTV Profit said MTAR, Larsen & Toubro, Walchandnagar Industries and Hindustan Construction Company all traded higher after a Finance Ministry notice said no customs duty is needed on goods brought in for nuclear energy between April 1, 2019 and January 31, 2026. The update covers past imports and takes away retrospective tax bills.
Indian stocks moved higher in early trade, with the Nifty 50 adding 1.02% to 23,398.9 and the BSE Sensex up 1.17% to 74,693.12 at 9:35 a.m. IST, according to Reuters. Small-cap stocks gained 1.6% and mid-caps rose 1.4%. Lower oil and signs of easing tensions in the Middle East gave equities a lift.
MTAR remains active on the radar after posting strong Q4 FY26 numbers, according to Business Standard. Net profit jumped 223.4% from a year ago to ₹44.3 crore. Revenue climbed 67.2% to ₹306.1 crore. MTAR’s order book reached ₹2,581.9 crore at the end of March 2026. Clean energy, which covers fuel cell, hydel, and other segments, made up 51.2% of the order book. Civil nuclear power’s share was 26.3%.
