Multibagger stock turns overbought on charts: Factors fuelling the rally & should investors book profit?
The multibagger stock has turned overbought (RSI at 76.5) on charts, indicating more buyers than sellers for the scrip.
- Apr 17, 2026,
- Updated Apr 17, 2026 4:48 PM IST
Shares of MTAR Technologies, which doubled investor wealth in 2026, have turned overbought (RSI at 76.5) on charts, indicating more buyers than sellers for the defence stock. MTAR Technologies stock rose 101% this year and and zoomed 246% in a year. The multibagger defence and aerospace stock gained 410% in five years.
The rally in the MTAR Technologies stock has been led by an impressive expansion of the company's partnership with Bloom Energy for AI data center fuel cells, a strong order book exceeding Rs 2,395 crore and promising growth in the nuclear and aerospace industries. The agreement of 2.8 GW with Bloom Energy, which may generate an additional Rs 1,400-Rs 1,700 crore in orders for the defence firm, has significantly raised investor interest in the stock.
The defence stock hit a record high of Rs 5078 in the previous trading session. The stock closed on a flat note at Rs 4844.15 today. Market cap of the firm rose to Rs 14,900 crore. Total 0.34 lakh shares of the firm changed hands amounting to a turnover of Rs 16.37 crore. Total 1.51 lakh shares of the firm changed hands amounting to a turnover of Rs 34.39 crore.
In terms of technicals, MTAR Technologies stock trades higher than the 5-day, 10 day, 20-day, 30 day, 50-day, 100-day and 200-day moving averages.
The defence sector stock fell to a 52-week low of Rs 1350.25 on May 7, 2025.
Meanwhile, brokerage Motilal Oswal has a buy call on the stock with a price target of Rs 6,000, indicating a potential 21 per cent upside. The domestic brokerage said the additional order for Bloom can translate into Rs 1,400-1,700 crore incremental orders for MTAR Technologies, which is 1.6-1.8 times of its estimated FY26 revenue.
Bloom has expanded its partnership with Oracle to support the rapid buildout of AI and cloud infrastructure in the US.
Jigar Patel from Anand Rathi said, "Support is placed at Rs 4600 , while resistance stands at Rs 5070. A decisive breakout above Rs 5070 could open the door for further upside towards Rs 5175. For the short term, the stock is expected to trade within the Rs 4600–Rs 5175 range." Patel advises booking profit in the stock.
MTAR Technologies Q3 earnings
The company posted its highest-ever quarterly revenue in Q3, led by strong operational performance.
Revenue from operations rose 59.3% to a record Rs 278 crore in Q3 against Rs 174.5 crore in Q3 FY25. EBITDA zoomed 92.5% to Rs 64.0 crore in Q3 compared to Rs 33.3 crore in Q3 of the last fiscal.
Net profit zoomed 117.3% to Rs 34.7 crore in Q3 FY26 against Rs 16.0 crore in Q3FY25.
About MTAR Technologies
MTAR Technologies has seven manufacturing facilities, including an export-oriented unit located in Hyderabad, and has been serving defence, aerospace and energy sectors for more than four decades.
It works with clients such as the Indian Space Research Organisation (ISRO), Defence Research and Development Organisation (DRDO), Nuclear Power Corporation of India Ltd (NPCIL) and US-based Bloom Energy Corp, besides catering to other well-known establishments like Bharat Dynamics and Hindustan Aeronautics (HAL).
Shares of MTAR Technologies, which doubled investor wealth in 2026, have turned overbought (RSI at 76.5) on charts, indicating more buyers than sellers for the defence stock. MTAR Technologies stock rose 101% this year and and zoomed 246% in a year. The multibagger defence and aerospace stock gained 410% in five years.
The rally in the MTAR Technologies stock has been led by an impressive expansion of the company's partnership with Bloom Energy for AI data center fuel cells, a strong order book exceeding Rs 2,395 crore and promising growth in the nuclear and aerospace industries. The agreement of 2.8 GW with Bloom Energy, which may generate an additional Rs 1,400-Rs 1,700 crore in orders for the defence firm, has significantly raised investor interest in the stock.
The defence stock hit a record high of Rs 5078 in the previous trading session. The stock closed on a flat note at Rs 4844.15 today. Market cap of the firm rose to Rs 14,900 crore. Total 0.34 lakh shares of the firm changed hands amounting to a turnover of Rs 16.37 crore. Total 1.51 lakh shares of the firm changed hands amounting to a turnover of Rs 34.39 crore.
In terms of technicals, MTAR Technologies stock trades higher than the 5-day, 10 day, 20-day, 30 day, 50-day, 100-day and 200-day moving averages.
The defence sector stock fell to a 52-week low of Rs 1350.25 on May 7, 2025.
Meanwhile, brokerage Motilal Oswal has a buy call on the stock with a price target of Rs 6,000, indicating a potential 21 per cent upside. The domestic brokerage said the additional order for Bloom can translate into Rs 1,400-1,700 crore incremental orders for MTAR Technologies, which is 1.6-1.8 times of its estimated FY26 revenue.
Bloom has expanded its partnership with Oracle to support the rapid buildout of AI and cloud infrastructure in the US.
Jigar Patel from Anand Rathi said, "Support is placed at Rs 4600 , while resistance stands at Rs 5070. A decisive breakout above Rs 5070 could open the door for further upside towards Rs 5175. For the short term, the stock is expected to trade within the Rs 4600–Rs 5175 range." Patel advises booking profit in the stock.
MTAR Technologies Q3 earnings
The company posted its highest-ever quarterly revenue in Q3, led by strong operational performance.
Revenue from operations rose 59.3% to a record Rs 278 crore in Q3 against Rs 174.5 crore in Q3 FY25. EBITDA zoomed 92.5% to Rs 64.0 crore in Q3 compared to Rs 33.3 crore in Q3 of the last fiscal.
Net profit zoomed 117.3% to Rs 34.7 crore in Q3 FY26 against Rs 16.0 crore in Q3FY25.
About MTAR Technologies
MTAR Technologies has seven manufacturing facilities, including an export-oriented unit located in Hyderabad, and has been serving defence, aerospace and energy sectors for more than four decades.
It works with clients such as the Indian Space Research Organisation (ISRO), Defence Research and Development Organisation (DRDO), Nuclear Power Corporation of India Ltd (NPCIL) and US-based Bloom Energy Corp, besides catering to other well-known establishments like Bharat Dynamics and Hindustan Aeronautics (HAL).