Shares of MTAR Technologies Ltd continued their sharp upmove for the second straight session on Monday following the company issuing clarification on US-based Bloom Energy Corp project, one of its key international clients. MTAR Tech is a critical manufacturing partner to Bloom Energy.

At last check, the stock was trading 5.51 per cent higher at Rs 7,555. At this level, it has delivered multibagger returns to investors by rallying 215.69 per cent year-to-date (YTD).

Meanwhile, BSE and NSE have placed MTAR Tech under the long-term Additional Surveillance Measure (ASM) framework. Exchanges place stocks under short-term or long-term ASM frameworks to caution investors about high volatility in share prices.

Here's what MTAR Tech's management said:

"In this regard, the Company wishes to clarify that the news article refers to comments made by the Managing Director of the Company, Mr. Parvat Srinivas Reddy, during his interaction with the news channel on June 12, 2026. During the interaction, he stated that MTAR Technologies Limited has not received any communication from its customer regarding any cancellation. Accordingly, there are no negotiations or discussions with its customer in relation to any such cancellation, reduction, deferment, or pause that would warrant disclosure.

The Managing Director further stated that 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 reports appearing on certain social media platforms and media sources regarding cancellation of orders do not emanate from any official communication issued neither by the customer nor by MTAR Technologies Limited. The aforesaid position was reiterated by the Managing Director during the said interaction with the news channel.

The Company further confirms that it is not aware of any information or event that has not been disclosed to the stock exchanges in accordance with the applicable provisions of the Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015, which could explain the movement in the price or volume of its securities.

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.

As on date, there is no material event or information requiring disclosure to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Company remains committed to complying with all applicable disclosure requirements and shall make appropriate disclosures, as and when any material event or information requiring disclosure arises, in accordance with the applicable regulatory framework.

Further, the Company would like to state that movements in the price and volume of its securities are influenced by various market factors and are purely market-driven."

Ravi Singh, Chief Research Officer at Master Capital Services, said, "MTAR Tech continues to remain a strong player in India's precision engineering and defence manufacturing space. The company is benefiting from growing opportunities in sectors like clean energy, aerospace, nuclear and defence. Recently, the stock saw some volatility after profit booking and concerns related to one of its international clients. However, the company's long-term outlook still looks positive, especially after securing a large international order worth over Rs 2,200 crore, which has improved future revenue visibility."

Separately, the Finance Ministry waived customs duties on all goods imported for nuclear power generation, covering imports made between April 1, 2019 and January 31, 2026.