MTAR Tech shares crash 9% after 280% rally in a year. What’s spooking investors today?

Shares of MTAR Technologies plunged about 9% on Thursday after its US-based client, Bloom Energy, saw its stock tumble 10% overnight. Investor sentiment was hit after a key data centre project linked to Bloom Energy was abruptly put on hold.

According to a Bloomberg report, 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 says 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.

MTAR Tech share price

MTAR Tech shares have fallen more than 13% in two days since Bloomberg’s report to trade at Rs 6,470 apiece on Thursday morning. Despite the recent downtrend, the stock has rallied 174% in 2026 so far and more than 280% in one year.

Shares of the company jumped 241% in three years and 539% in five years. MTAR Tech currently has a market capitalisation of Rs 8,450 crore.

MTAR Tech Q4 Results

MTAR Technologies earlier in May reported a sharp rise in profit for the March quarter, driven by strong growth in revenue from operations and improved operating leverage across businesses. The Hyderabad-based precision engineering company posted a consolidated net profit of Rs 44.28 crore for Q4, compared with Rs 13.72 crore in the corresponding quarter last year, marking a jump of around 223%.

Also read: MTAR Technologies Q4 Results Revenue from operations rose sharply to Rs 306 crore in the quarter ended March 2026 from Rs 183 crore in the year-ago period, registering growth of nearly 67%. The rise was largely led by higher product sales, which came in at Rs 303 crore compared with Rs 179 crore in the same quarter last year.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)