MTAR Technologies shares surged to the 5 percent upper circuit limit in Monday's trading session, reaching ₹7,519 per share on the NSE. According to reports from Moneycontrol, the stock opened at ₹7,288 and touched an intraday high of ₹7,519, while maintaining a low of ₹7,170. The sharp rise came amid reports that Bloom Energy will join the S&P 500 index in the upcoming quarterly rebalancing, replacing Molson Coors Beverage.
The index inclusion is expected to draw significant interest from institutional investors and passive funds tracking the S&P 500. As reported by Moneycontrol, Bloom Energy's inclusion reflects its market capitalisation and eligibility under the index provider's criteria. The company has a market capitalisation of USD 69.4 billion and operates in the electrical industry segment. The S&P 500 inclusion is being closely watched by investors tracking companies connected to the AI data centre and clean energy ecosystem.
MTAR Technologies' association with Bloom Energy has strengthened its positioning in the fuel cell solutions segment for AI data centres. According to reports from Moneycontrol, Bloom Energy supplies fuel cell solutions for AI data centres, with Bloom Energy's fuel cells expected to be deployed in a proposed 1.8 GW data centre project in Cheyenne, Wyoming. The partnership positions MTAR Technologies in the growing AI infrastructure market, giving it exposure to the fuel cell segment and broader expansion of AI-related infrastructure.
Bloom Energy designs, manufactures, sells and installs solid oxide fuel cell systems that provide on-site power generation for customers in the US and internationally. As reported by Moneycontrol, the company's fuel cells are expected to be deployed in a proposed 1.8 GW data centre project in Cheyenne, Wyoming, highlighting the growing demand for clean energy solutions in AI infrastructure. MTAR Technologies' market capitalisation stands at over ₹23,000 crore, with a P/E ratio of 173.29, a 52-week high of ₹8,714 per share and a 52-week low of ₹1,400.
