Mtar Technologies Bags Order Worth Rs 140 Cr; Shares Up 2%
The firm receives export orders worth USD 16.73 Mn (approx 140 crore) in clean energy fuel cells vertical for execution of power units and associated components
Shares of Mtar Technologies climbed 2 per cent in the Thursday trading session after the firm received an order worth USD 16.73 million from Bloom Energy Corporation.
Mtar Technologie stock traded with 1.74 per cent gain at Rs 1,838 in the morning session on the National Stock Exchange (NSE).
The firm received export orders worth USD 16.73 Mn (approx 140 crore) in clean energy fuel cells vertical for execution of power units and associated components.
As per the contract, USD 9.10 million orders shall be executed in FY 2024-25 and balance orders will be dispatched by Q1 FY 2025-26.
The company is expecting further orders in this vertical that will be executed in FY 2024-25 itself. These orders will support the revenue targets guided by the company for FY 2024-25.
Mtar Technologies owned seven based manufacturing units including an export-oriented unit each based in Hyderabad, Telangana. The firm caters to clean energy including civil nuclear power, fuel cells, hydel and others, space and defence sectors.
However, sneaking into the stock performance in the year 2024 so far, Mtar Technologies plummeted nearly 17 per cent.
