Why multibagger MTAR Technologies shares tumbled nearly 19% in four sessions
Despite the recent selloff, MTAR Tech remains a multibagger in 2026 so far, with the stock still up 127.92 per cent on a calendar-year basis.
- Jul 21, 2026,
- Updated Jul 21, 2026 12:48 PM IST
Shares of MTAR Technologies Ltd extended their sharp decline for the fourth straight trading session on Tuesday, falling 5 per cent to hit a low of Rs 5,454.45. At this level, the stock was down 18.55 per cent over the last four trading sessions and has corrected 34.30 per cent in the past one month.
Despite the recent selloff, MTAR Tech remains a multibagger in 2026 so far, with the stock still up 127.92 per cent on a calendar-year basis.
With that being said, the latest pressure on the counter came from the US, where shares of Bloom Energy Corp dropped 8.33 per cent overnight, extending their one-month decline to 43.02 per cent.
MTAR Tech is a critical manufacturing partner for Bloom Energy, with the US-based fuel-cell company contributing more than half of MTAR's revenue. As a result, any adverse developments related to Bloom Energy tend to have a significant impact on investor sentiment.
The weakness in Bloom Energy follows reports of regulatory hurdles delaying an Oracle-linked data centre project that was expected to deploy Bloom Energy's fuel-cell technology.
Meanwhile, both BSE and NSE have placed MTAR Tech under the long-term Additional Surveillance Measure (ASM) framework. Stock exchanges place securities under the short-term or long-term ASM framework to alert investors about heightened volatility in share prices and to strengthen market surveillance.
Last month, MTAR Technologies had sought to reassure investors regarding developments linked to Bloom Energy.
"The Company's order book remains healthy and that no communication has been received from any customer indicating a reduction in committed business. The Company's capacity expansion plans remain on track, and it continues to work closely with its customers to meet the agreed delivery schedules," the company had stated.
"Further, the Company confirms that there are no regulatory or legal proceedings, the initiation or outcome of which requires disclosure and which could have a bearing on the movement in the price or volume of the Company's securities," MTAR Tech added.
From a technical standpoint, AR Ramachandran, Sebi-registered research analyst at Tips2trades, said, "MTAR Tech's stock is bearish and oversold on daily charts with next support at Rs 5,125. Investors should buy only if a daily close is above the resistance of Rs 5,725, which could lead to an upside target of Rs 6,590 in the near term."
Shares of MTAR Technologies Ltd extended their sharp decline for the fourth straight trading session on Tuesday, falling 5 per cent to hit a low of Rs 5,454.45. At this level, the stock was down 18.55 per cent over the last four trading sessions and has corrected 34.30 per cent in the past one month.
Despite the recent selloff, MTAR Tech remains a multibagger in 2026 so far, with the stock still up 127.92 per cent on a calendar-year basis.
With that being said, the latest pressure on the counter came from the US, where shares of Bloom Energy Corp dropped 8.33 per cent overnight, extending their one-month decline to 43.02 per cent.
MTAR Tech is a critical manufacturing partner for Bloom Energy, with the US-based fuel-cell company contributing more than half of MTAR's revenue. As a result, any adverse developments related to Bloom Energy tend to have a significant impact on investor sentiment.
The weakness in Bloom Energy follows reports of regulatory hurdles delaying an Oracle-linked data centre project that was expected to deploy Bloom Energy's fuel-cell technology.
Meanwhile, both BSE and NSE have placed MTAR Tech under the long-term Additional Surveillance Measure (ASM) framework. Stock exchanges place securities under the short-term or long-term ASM framework to alert investors about heightened volatility in share prices and to strengthen market surveillance.
Last month, MTAR Technologies had sought to reassure investors regarding developments linked to Bloom Energy.
"The Company's order book remains healthy and that no communication has been received from any customer indicating a reduction in committed business. The Company's capacity expansion plans remain on track, and it continues to work closely with its customers to meet the agreed delivery schedules," the company had stated.
"Further, the Company confirms that there are no regulatory or legal proceedings, the initiation or outcome of which requires disclosure and which could have a bearing on the movement in the price or volume of the Company's securities," MTAR Tech added.
From a technical standpoint, AR Ramachandran, Sebi-registered research analyst at Tips2trades, said, "MTAR Tech's stock is bearish and oversold on daily charts with next support at Rs 5,125. Investors should buy only if a daily close is above the resistance of Rs 5,725, which could lead to an upside target of Rs 6,590 in the near term."