MTAR TECHNOLOGIES SHARES HIT 5% UPPER CIRCUIT

MTAR Technologies shares hit the 5% upper circuit in Monday’s trade after its key client Bloom Energy was reportedly set to be included in the S&P 500 index as part of the upcoming quarterly rebalancing. Bloom Energy is expected to replace Molson Coors Beverage in the benchmark index. Its inclusion is likely to attract increased attention from institutional investors and passive funds that track the S&P 500. The addition reflects Bloom Energy’s market capitalisation and its eligibility under the index provider’s inclusion criteria. MTAR Technologies’ association with Bloom Energy, which provides fuel-cell solutions for AI data centres, has strengthened the Indian company’s exposure to the rapidly expanding data-centre power segment. Bloom Energy’s fuel-cell systems are expected to be deployed as part of a proposed 1.8 GW data-centre project in Cheyenne, Wyoming. Bloom Energy designs, manufactures, sells and installs solid-oxide fuel-cell systems that provide on-site power generation for customers in the US and international markets. The company has a market capitalisation of approximately $69.4 billion and operates in the electrical equipment industry.