MTAR Tech shares rally 3%, extend gains for second session. What’s triggering the surge?
MTAR Technologies shares gained 3% after the company secured a Rs 127 crore order from Nuclear Power Corporation of India for coolant channel assemblies used in reactor refurbishment. The order takes its civil nuclear order book above Rs 775 crore, while the company expects 80% revenue growth in FY27 and sees further opportunities from reactor refurbishment and new nuclear projects.
Shares of MTAR Technologies surged 3% on Wednesday as the company secured a significant order worth Rs 127 crore from Nuclear Power Corporation of India for coolant channel assemblies. This marked the second consecutive day of gains for the stock, which rose 5% in total. MTAR Tech's management highlighted the growing orders in the civil nuclear sector, noting that their closing nuclear order book now surpasses Rs 775 crore, the firm's largest ever.
The company expects a steady stream of orders in the years ahead, driven by the long-term outlook in the sector. MTAR's guidance for FY27 includes an 80% revenue growth and an EBITDA margin of 24% plus or minus 100 basis points. The management reiterated its commitment to expanding its product portfolio, increasing customer share, and broadening its global customer base.
The company has also strengthened its position in the civil nuclear power segment, with a recent largest-ever order worth Rs 504 crore for the Kaiga 5 and 6 projects. Looking ahead, MTAR Tech sees significant opportunities in the proposed construction of four reactors at Mahi Banswara, with NTPC partnering with NPCIL.
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