This defence stock has zoomed 100% so far in 2026 amid volatile market; check the latest trigger

Elevated energy prices have, in turn, added to inflationary pressures and weighed on investor sentiment across sectors.

Data show that the benchmark index, NIFTY50, is down 7.5% YTD, and the SENSEX has dropped 8.5%.

However, in a sharp contrast, there is a defence stock, which has been an outlier and has defied market trends, hands down.

This stock has rallied 100% YTD.

The company is MTAR Technologies.

Shares of MTAR Technologies on Wednesday, April 15, jumped as much as 10% to hit their 52-week high of ₹4,834.40 on the NSE in the early trade.

What is the latest news?

According to media reports, Bloom Energy will supply up to 2.8 GW of fuel cells to Oracle under an expanded deal.

MTAR Technologies, as per the company's website, is a key strategic supplier for Bloom Energy, manufacturing critical components like hydrogen boxes, electrolysers, and sheet metal assemblies for solid oxide fuel cells (SOFC) and electrolysers.

In September 2025, MTAR secured ₹386 crore ($43.9M) in new orders from Bloom Energy, boosting its clean energy portfolio and supporting AI-related energy projects.

Bloom Energy is a San Jose-based company that manufactures and installs solid oxide fuel cell systems, known as "Bloom Energy Servers" or "Bloom Boxes".

These systems generate reliable, on-site, 24/7 electricity through an electrochemical process (without combustion), aimed at reducing carbon emissions and supporting industries like data centres, hospitals, and manufacturing.

"Increasing use of artificial intelligence is driving power consumption. As per Bloom Energy and Oracle's deal, an initial 1.2 GW capacity has been contracted, with deployment already underway and will continue into the next year," the CNBC report said, quoting a Reuters report.

Fuel cells offer a cleaner alternative to traditional power by generating electricity via chemical reactions.

About MTAR Technologies

MTAR Technologies is a key precision engineering company operating in the defence and aerospace sectors. It manufactures critical components, sub-systems, and systems for DRDO labs, DPSUs, and global giants like Rafael and Elbit.