Mumbai, June 16, 2026, 16:20 (IST)
- MTAR Technologies ended at ₹7,698.50 on the NSE, gaining 4.83%. The stock beat the Indian market today.
- Shares rebounded after management said it hasn’t heard about any delays connected to Bloom Energy. That gave investors some relief.
- The stock’s order book is solid, but the valuation leaves little cushion if the company misses on execution.
MTAR Technologies Ltd extended gains Tuesday, ending at ₹7,698.50 on the NSE, up ₹354.50 or 4.83%. On the BSE, the stock closed at ₹7,688.55, up 4.51%. Mirae Asset Sharekhan said the shares moved between ₹7,285.50 and ₹7,779 on the NSE, with volumes of about 3.19 million and a market cap nearing ₹23,680 crore. Indian equities moved up as well. The Nifty 50 added 0.57% at 23,989.15, while the Sensex gained 0.71% to end at 76,808.48. Reuters said sentiment improved on lower West Asia risk and softer oil prices. Sharekhan
Bloom Energy risks weighed on MTAR shares last week after a sharp drop, with focus on worries over possible delays at a Wyoming data center using Bloom’s fuel cells. MTAR relies on Bloom for big orders of fuel-cell parts. Moneycontrol reported Bloom accounts for 55–65% of MTAR’s annual revenue. Still, Managing Director Srinivas Reddy told CNBC-TV18 via Moneycontrol, “There are no delays as far as we are concerned. We remain completely on track.” Moneycontrol
MTAR shares bounced after dropping 15.55% in the last two sessions, Business Standard said. Traders pulled back on the stock, worried by no new project updates and a possible slip in demand for MTAR parts. The same report said MTAR’s Wyoming project is still slated to start in early 2028, with or without Crusoe as partner. That eased worries about near-term risk to the clean-energy pipeline. Business Standard
MTAR shares are getting support from the numbers. Sales for the March quarter jumped 67.2% to ₹306 crore and net profit climbed 222.6% to ₹44.2 crore. The maker of precision parts for clean energy and defence lifted its FY27 revenue growth forecast to 80% from 50%, Moneycontrol reported. At the end of FY26, MTAR had an order book of ₹2,581.9 crore and is targeting ₹5,000 crore by FY27. Motilal Oswal analysts told Moneycontrol they see a bigger Oracle-Bloom deal possibly bringing in another ₹1,400–1,700 crore in orders for MTAR. Moneycontrol
Questions on valuation and dependence haven’t gone away. MTAR trades at a trailing P/E near 240.6 and a price-to-book ratio of 27.5, according to Sharekhan. The stock is far off its 52-week low at ₹1,390.50 and not far from its ₹8,449.50 high. That big P/E says investors see sharp growth ahead. If MTAR misses on Bloom, execution, margin or working capital, it could get hit. Sharekhan
MTAR is trading more on risk than fundamentals right now. Growth stories are active, with new clean energy orders, more nuclear projects, and a higher FY27 outlook. Still, the stock has run up and trades at over 240x earnings. Management needs to deliver on its targets to support this level. The focus is on order flow from Bloom, clean-energy contracts turning into revenue, then the coming FY27 update. If MTAR reports strong numbers, the high multiple could hold. If not, there’s a risk of a sharp correction.
