MTAR Technologies Share Price Jumps 5% As Key Client Bloom Energy Enters S&P 500

Shares of MTAR Technologies hit the 5% upper circuit on the National Stock Exchange (NSE) in Monday’s trade on 7 September.

The sharp rise came after reports that Bloom Energy would join the S&P 500, replacing Molson Coors Beverage in the upcoming quarterly rebalancing.

At the close, MTAR Technologies shares ended at ₹7,519, up 5% from the previous close.

Bloom Energy To Replace Molson Coors Beverage

Bloom Energy will replace Molson Coors Beverage in the S&P 500 as part of the upcoming quarterly rebalancing. Its inclusion reflects the company’s market capitalisation and eligibility under the index provider’s criteria.

The move is expected to draw interest from institutional investors and passive funds tracking the S&P 500.

MTAR Technologies’ Link With Bloom Energy

MTAR Technologies’ association with Bloom Energy has brought the company into focus amid growing demand for power solutions for artificial intelligence (AI) data centres. Bloom Energy is a US-based company that designs, manufactures, sells and installs solid oxide fuel-cell systems for on-site power generation.

Its fuel cells are expected to be deployed in a proposed 1.8 GW data centre project in Cheyenne, Wyoming. Bloom Energy supplies these power-generation solutions to customers in the US and international markets, giving MTAR Technologies exposure to the fuel cell segment and the wider growth of AI-related infrastructure.

Bloom Energy has a market capitalisation of $69.4 billion and operates in the electrical industry segment.

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