MTAR Technologies share price jumped over 13% on Friday, recouping a significant portion of its previous session’s losses amid strong buying momentum. The defence stock rallied as much as 13.26% to ₹7,130.70 apiece on the BSE.
The sharp rebound in MTAR Technologies share price came after reports indicated that the major data centre project linked to Bloom Energy remains on track.
MTAR Technologies shares had declined over 11% on Thursday, extending losses to more than 18% over two consecutive trading sessions. The sharp fall in the stock followed concerns surrounding a planned data centre project in Wyoming, which was expected to deploy Bloom Energy’s fuel-cell technology.
However, on Thursday, Black Hills Corporation clarified that the proposed 1.8-gigawatt project in Cheyenne has not been put on hold and that development activities are progressing as planned. The company said it is working closely with the potential large-load customer and expects the project to commence operations in early 2028, according to reports.
Earlier, concerns over MTAR Technologies intensified after one of its key customers, Crusoe Energy, announced a pause in the data centre component of the Wyoming project at the request of its customer, raising uncertainty over Bloom Energy’s future fuel-cell deployment pipeline.
The facility was expected to be powered by a mix of Bloom Energy fuel cells and grid electricity, including 900 MW of behind-the-meter fuel-cell capacity, reports said.
Investor concerns stem from MTAR Technologies’ significant dependence on Bloom Energy, which contributes an estimated 55%–65% of its revenue.
MTAR Technologies Share Price Performance
MTAR Technologies share price has gained 13% in one month and has delivered multibagger returns of 100% in three months. The defence stock has jumped 200% on a year-to-date (YTD) basis, while it surged 320% over the past one year. MTAR Technologies stock price has skyrocketed 265% in three years and has spiked 587% in five years.
Technical View
MTAR Technologies share price has broken below the crucial swing-structure support near ₹7,730 and subsequently corrected sharply to test its 50-day EMA, registering a low around ₹6,180.
“The current recovery appears to be a technical pullback rather than the start of a fresh uptrend, as it is retracing a portion of the prior corrective decline. Price action remains vulnerable, with the broader structure still reflecting distribution and weakening momentum. The ₹7,150 zone is emerging as a significant resistance area where overhead supply is likely to reappear and cap the rebound,” said Anshul Jain, Head of Research at Lakshmishree Investments.
According to him, unless MTAR Technologies share price reclaims this resistance decisively, the prevailing trend remains negative, with downside risk extending toward the ₹5,600 zone in the coming weeks.
At 11:45 AM, MTAR Technologies share price was trading 12.35% higher at ₹7,072.90 apiece on the BSE.
