MTAR Technologies Shares Hit 5% Upper Circuit as Bloom Energy Set to Join S&P 500
Last Updated: 7th September 2026 - 03:56 pm
Shares of MTAR Technologies were locked in the 5% upper circuit at ₹3,749.50 on September 7, after its key client Bloom Energy was selected for inclusion in the S&P 500 index.
The development brought attention to MTAR Technologies because of its business relationship with the US-based fuel cell company.
Bloom Energy will join the S&P 500 before trading opens on September 21, replacing deckers outdoors.
Bloom Energy’s S&P 500 Entry Puts Focus on MTAR
Bloom Energy’s inclusion comes as part of changes announced by S&P Dow Jones Indices.
The company provides fuel cell-based power solutions and has emerged as an important customer for MTAR Technologies.
MTAR supplies clean-energy products to Bloom Energy, making developments around the US company relevant for the Indian engineering firm.
Bloom Energy Remains a Key Customer
Bloom Energy accounted for more than 60% of MTAR Technologies’ revenue in FY26, highlighting the significance of the relationship between the two companies.
MTAR Technologies supplies hot boxes and other critical assemblies used in Bloom Energy’s fuel-cell systems.
The Indian company has also been working to expand the range of products supplied to Bloom Energy.
MTAR Shares Have Seen a Strong Run
The latest upper circuit adds to a sharp run in MTAR Technologies shares.
The stock has gained more than 150% over the past six months, according to the Moneycontrol report.
Bloom Energy’s upcoming entry into the S&P 500 has now provided another trigger for the stock, with MTAR Technologies’ shares reaching their 5% upper circuit during Monday’s session.
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