The shares of MTAR Tech rallied around 12% on Friday after the company clarified that it has not received any communication on any project delay, following reports around an abrupt pause in its key US-based client Bloom Energy’s data centre project that sparked a 15% crash in the stock over two days.

The shares of the company rose to Rs 7,093 apiece on Friday morning, further buoyed by overall market optimism. The stock has jumped over 190% in 2026 so far and a whopping 315% in one year.

MTAR Tech shares crashed around 15% over the past two sessions after a Bloomberg report stated that Crusoe Energy Systems LLC, which develops data centres for companies such as OpenAI and Microsoft, has paused work on a planned 1.8-gigawatt data centre campus in Cheyenne, Wyoming. The project was expected to be powered by 900 MW of Bloom Energy fuel cells along with grid electricity.

Notably, MTAR Tech is a critical manufacturing partner for Bloom Energy. It manufactures and fabricates critical assemblies for the US-based company. MTAR Tech's website states that Bloom Energy’s servers are among the most efficient energy generators globally, significantly reducing electricity costs and lowering greenhouse gas emissions.

For over nine years, MTAR has supplied power units, specifically hot boxes, to Bloom Energy in the US, and a major portion of its revenue comes from the US-based client. Currently, MTAR is also developing and manufacturing hydrogen boxes and electrolysers for the company.

Why are MTAR Tech shares rising today?

However, today’s sharp surge in MTAR Tech share price comes along with a similar gain in Bloom Energy’s share price on Wall Street. Further, MTAR Tech clarified that it has received no communication on any project pause during an investor call, ET Now reported.

The company further said that it is working with multiple vendors, and not just Bloom. Its order book, meanwhile, has doubled over the past one to two months. MTAR Tech management does not expect any material impact even if a project is paused, which remains unconfirmed, ET Now reported.

MTAR Tech also saw several bulk deals being executed on June 11 after the sharp crash in the share price. Hrti Private Limited sold around 2.5 lakh shares at Rs 6,564 apiece, and bought around 2.71 lakh shares at a lower price of Rs 6,501 apiece, according to NSE data.

Jump Trading Financial India sold 1.56 lakh shares at Rs 6,551.22 apiece, and then bought the same number of shares at Rs 6,497.21 apiece.

Junomoneta Finsol, meanwhile, sold 2.14 lakh shares at Rs 6,530 apiece, and bought 2.15 lakh shares at Rs 6,526 apiece.

MTAR Tech shares have seen a significant surge recently, delivering strong returns to investors. The stock has jumped more than 260% in three years and around 580% in five years. The company currently has a market capitalisation of nearly Rs 21,495 crore.

Technical levels for MTAR Tech

MTAR Tech shares have undergone a healthy correction after hitting a high of 8,450 on May 22, eventually retracing towards their 50-day EMA, said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities. Encouragingly, the stock witnessed a strong rebound from this support level today, indicating that the near-term bullish trend remains intact, he added.

"On the weekly chart, momentum indicators such as RSI, ADX, and MACD remain elevated following the sharp rally, suggesting that intermittent profit booking cannot be ruled out. The 6,050–6,000 zone continues to act as a crucial support area. As long as the stock sustains above this range, the broader uptrend is likely to remain intact. However, a decisive breach below this zone could trigger extended profit booking," the analyst further said.

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