Here's why MTAR Tech shares surged 13% to hit a 52-week high on Tuesday

Shares of MTAR Technologies Ltd. gained 12.5% to hit its 52-week high on Tuesday, October 14.

This is the stock's biggest single-day gain since February 2025. It had snapped its three-day losing streak on Monday.

As many as 23.4 lakh shares of MTAR Tech have changed hands compared to the 20-day average of 1.6 lakh shares as of 12 noon.

Brookfield backs Bloom Energy

According to reports, Brookfield has backed Bloom Energy with a $5 billion investments for fuel cells, which will power AI data centers. Bloom Energy is a key client of MTAR Tech.

The partnership launches the first phase of joint AI infrastructure vision. It is actively collaborating on the design and delivery of AI factories globally, including a site in Europe that will be announced before the end of the year.

Bloom Energy is set to become the preferred onsite power provider for Brookfield's global AI factories.

This is Brookfield's first investment in its dedicated AI infrastructure strategy.

Bloom Energy has already deployed its fuel-cell technology to data centers, through partnerships with American Electric Power, Equinix, and Oracle.

MTAR's role

MTAR Tech is a key strategic supplier to Bloom Energy, supporting its sold oxide fuel cell (SOFC) and solid oxide electrolyser (SOEC) programmes.

It supplies power units, sheet metal assemblies and enclosures.

It is also the sole supplier of Bloom Energy's electrolyser units, which is critical in the latter's supply chain.

It currently caters to around 50%-60% of Bloom Energy's hotbox requirements.

Also, clean energy fuel cells contributed 62%, or ₹420 crore, of MTAR Tech's revenue in financial year 2025.

Shares of MTAR Tech gained 12.5% to hit its 52-week high of ₹2,125 apiece on Tuesday. The stock has gained 25.2% in the past month and 52.9% this year, so far. The stock continues to extend gains after a 32% surge in September. The stock turned positive year-to-date after the last two months of gains.

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