MTAR Tech shares soar 10%, double investor money in 2026! What’s behind the latest surge?

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MTAR Technologies shares surged over 10%, extending a sharp rally that has doubled investor wealth in 2026 so far. The spike follows a major Bloom Energy–Oracle deal, strengthening growth visibility. Strong Q3 earnings, rising AI-driven power demand, and its …

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Shares of MTAR Technologies Ltd surged as much as 10.5% to hit an intraday high of Rs 4,860 on the BSE on Wednesday after a Reuters report said Bloom Energy will supply up to 2.8 GW of fuel cells to Oracle under an expanded deal. With the latest rally, the stock has turned into a multibagger in 2026, gaining over 100% in just over three months.

MTAR Technologies is a key part of Bloom Energy’s supply chain, with around 55% to 65% of its revenue coming from the US-based firm. It serves as a strategic supplier, supporting Bloom’s solid oxide fuel cell and solid oxide electrolyser programmes, and is also the sole supplier for its electrolyser units.

The development comes amid rising power demand driven by the increasing adoption of artificial intelligence. As part of the Bloom Energy–Oracle deal, an initial capacity of 1.2 GW has already been contracted, with deployment underway and expected to continue into next year, according to the Reuters report. Fuel cells generate electricity through a chemical reaction and are seen as a cleaner alternative to conventional power sources.

MTAR Technologies operates in precision engineering, manufacturing high-precision components and assemblies for sectors such as nuclear, space, defence and clean energy. Its capabilities include complex manufacturing of liquid propulsion engines, reactor fuel machining heads and ball screws.

MTAR Tech Q3 snapshot

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In its December quarter results, the company reported strong growth. Net profit more than doubled to Rs 34.6 crore in Q3FY26 from Rs 15.9 crore a year earlier, while revenue rose 56.9% year-on-year to Rs 273.7 crore. EBITDA increased 80.7% to Rs 59.8 crore, with operating margin improving to 22% from 19% in the same period last year.
The company also noted that implementation of new labour codes led to a one-time increase of Rs 23.77 crore in provisions for employee benefits, which was recorded as an exceptional item for the quarter and the nine months ended December 31, 2025.

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At about 11:20 am, MTAR Tech shares were trading at Rs 4,806, higher by 9.2% from the last close on the BSE.

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