MTAR Technologies Share Price Jumps 40% In April, Doubles In 2026: What’s Fueling The Rally?

MTAR Technologies share price (NSE: MTARTECH) surged to a new lifetime high of ₹4,848 during Wednesday’s intraday trade.

The stock gained around 10% in a single session and has jumped 40% in April alone. In 2026 so far, the stock has doubled, while the broader market has declined. Over the past year, the stock has delivered an impressive 250% return.

Strong Presence In High-Growth Sectors

MTAR operates 12 manufacturing units in Hyderabad and supplies products to clean energy, nuclear power, fuel cells, space and defence sectors.

The company has built long-term relationships with major Indian organisations and global original equipment manufacturers, which continues to support its growth.

Partnership Boost From Bloom Energy–Oracle Deal

A major trigger for the rally is the growing demand from fuel cell maker Bloom Energy.

Bloom Energy recently expanded its partnership with Oracle to support AI and cloud infrastructure. Under the agreement, Oracle plans to procure up to 2.8 GW of Bloom’s fuel cell systems.

MTAR had already received an order worth ₹386 crore from Bloom Energy in September 2025, with execution scheduled across FY26 and FY27.

Growing Demand From AI Data Centres And Clean Energy

The company said strong demand from AI-powered data centres and the global clean energy transition is expected to drive customer growth at around 30% annually until 2030.

MTAR expects its customer to expand fuel cell capacity significantly in the coming years, which could lead to additional orders.

Capacity Expansion To Support Future Growth

To meet rising demand, the company is rapidly expanding manufacturing capacity:

• Target: 12,000 units by FY26 end
• Plan: 20,000 units by FY27 end
• Long-term goal: 30,000 units in the following year

The company also secured new orders worth ₹35.6 crore in April 2026 for data centre energy projects.

Read More: Coal India Board Meeting on April 27 to Consider Q4 Results, Final Dividend!

Strong Financial Performance And Order Book

MTAR reported strong Q3FY26 results with revenue of ₹278 crore, up 59% year-on-year. EBITDA stood at ₹64 crore, the highest quarterly revenue achieved so far.

The company recorded its highest-ever order inflows in FY26 so far. The order book stood at ₹2,394 crore at the end of Q3 and is expected to reach ₹2,800 crore by the end of FY26.

Conclusion

MTAR Technologies’ rally is supported by strong order inflows, growing AI data centre demand, expansion in clean energy and aggressive capacity expansion plans. With a strong order book and positive outlook, the company expects growth momentum to continue.

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