MTAR Technologies Share Price Under Pressure After Bloom Energy Falls 10% on AI Data Centre Project Pause

MTAR Technologies share price declined nearly 10% on June 11 after its key customer, Bloom Energy, witnessed a sharp fall in the U.S. market following reports that a major AI-linked data centre project had been paused. The development raised concerns over the pace of execution of Bloom Energy's commercial fuel-cell deployment pipeline. 

Bloom Energy Remains a Key Customer for MTAR 

MTAR Technologies is a manufacturing partner for Bloom Energy and supplies hot box assemblies and solid oxide fuel cell systems used in Bloom's clean energy solutions. Bloom Energy contributes around 55-65% of MTAR Technologies' overall revenue, making it one of the company's largest customers. 

The pause in the AI data centre project has led investors to assess the near-term execution timeline for Bloom Energy's commercial fuel-cell projects. 

MTAR Expanding Manufacturing Capacity 

To meet growing demand for fuel-cell components, MTAR Technologies is implementing a phased capacity expansion plan. The company aims to increase hot box production capacity from 8,000 units to 20,000 units by December 2026 and further expand capacity to 30,000 units by FY28. 

The expansion is intended to support the increasing deployment of solid oxide fuel-cell systems for AI-focused data centres. 

Oracle Partnership Supports Long-Term Opportunity 

Bloom Energy recently expanded its partnership with Oracle by increasing its fuel-cell capacity commitment from 1.2 GW to 2.8 GW. Oracle is deploying Bloom Energy's solid oxide fuel-cell technology to provide on-site power for AI data centres. 

Read More: MTAR Technologies Share Price Gains Over 6%; Secures ₹467.30 Crore in International Purchase Orders 

FIIs Raise Stake in MTAR Technologies 

Foreign institutional investors (FIIs) have steadily increased their holding in MTAR Technologies over the past few quarters. FII shareholding rose from 12.24% in December 2025 to 17.31% in March 2026, marking an increase of 5.07 percentage points in a single quarter. 

Over a longer period, FII ownership has climbed from 4.52% in June 2023 to 17.31% in March 2026, reflecting a gradual increase in institutional participation.  

MTAR Technologies Share Price Declines 

MTAR Technologies share price was 10.10% lower at ₹6,389 apiece at 12:01 PM on June 11. The decline followed a 10% drop in Bloom Energy's U.S.-listed shares after reports that a Crusoe energy data centre project associated with AI infrastructure expansion had been put on hold. 

Despite the day's decline, MTAR Technologies share price has gained around 270% over the past 1 year. 

Conclusion 

MTAR Technologies share price declined following weakness in Bloom Energy's stock after reports of a paused AI data centre project. At the same time, the company's ongoing capacity expansion and Bloom Energy's expanded partnership with Oracle continue to support its exposure to the growing AI infrastructure and clean energy ecosystem. 

Want to read stock market updates in Hindi? Angel One News gives comprehensive share market news in Hindi.   

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.