Market
MTAR Technologies Ltd shares jump 10% on Bloom Energy–Oracle deal
Mumbai/IBNS: Shares of MTAR Technologies Ltd surged 10% on Wednesday after a Reuters report said Bloom Energy will supply up to 2.8 GW of fuel cells to Oracle as part of an expanded deal.
Under the agreement, an initial 1.2 GW of capacity has already been contracted, with deployment underway and expected to continue into next year.
Why MTAR Tech shares surged
MTAR Technologies plays a critical role in Bloom Energy’s supply chain, positioning it to benefit from the deal.
Reports suggest that nearly 55–65% of MTAR Tech’s revenue is derived from Bloom Energy’s operations in the United States, making the development significant for the company’s growth outlook.
About MTAR Technologies Ltd
MTAR Technologies Ltd is an Indian precision engineering company that manufactures mission-critical components and systems for sectors such as defence, aerospace, nuclear energy, and clean energy.
The company was established to support India’s engineering needs during a period of import restrictions and has since evolved into a key supplier for strategic and high-technology industries.
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