MTAR Technologies, opened slightly lower but soon rose up to hit an intraday high at Rs.1429.55, up almost 4.5%. Its 52-week high is at Rs.1562.
The stock price rose after the company said that it has secured order worth Rs 220 crore from Bloom Energy, USA for providing manufactured and assembled products.
This order is for export of Yuma Hot Boxes and associated components for Bloom Energy to be delivered over the four quarters of the calendar year 2022.
This is the largest single order ever received by MTAR.
MTAR Technologies is a niche manufacturing service provider in precision engineering and critical assembly of key components and products for various customer segments such as Civil Nuclear Energy, Space, Defence and Aerospace, Clean Energy and others. It has revenue from both domestic customers as well as from Exports.