Gujarat-based multibagger EV-stock under Rs 50 jumps over 8% on August 20; Here’s why!

On Wednesday, shares of Mercury EV-Tech Ltd jumped 8.87 per cent to Rs 49.60 per share from its previous closing of Rs 45.56 per share. The stock’s 52-week high is Rs 139.20 per share and its 52-week low is Rs 45 per share. The stock is up by 10.22 per cent from its 52-week low of Rs 45 per share. The shares of the company saw a spurt in volume by more than 1.20 times on the BSE.

Mercury EV Tech has inaugurated a new EV showroom in Bhavnagar, near Jashonath Circle, positioning it as a key centre for "Make in India" electric vehicles. The opening, attended by political dignitaries and company executives, highlighted the environmental and economic advantages of EVs. Chairman Shri Jayesh Thakkar underscored the showroom's role in advancing a self-reliant and pollution-free India, with plans to offer a diverse range of electric vehicles from two-wheelers to tempos, thereby fostering an EV-driven Bhavnagar.

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Mercury EV Tech offers end-to-end EV solutions, including in-house manufacturing of batteries, chassis, and motor controllers, supported by a CED coating plant. The company is developing one of India's largest Lithium-Ion battery manufacturing facilities in Vadodara (3.2 GW capacity) for EV and BESS applications, with pilot production expected soon. With R&D centres and in-house manufacturing, Mercury EV Tech is poised to capitalise on India's growing EV and BESS markets. They recently inaugurated a new showroom in Dahod, attended by company officials and local dignitaries.

According to Quarterly Results, the net sales increased by 482 per cent to Rs 22.57 crore and net profit increased by 235 per cent to Rs 1.63 crore in Q1FY26 compared to Q1FY25. In its annual results, the net sales increased by 307 per cent to Rs 89.64 crore and the net profit increased by 286 per cent to Rs 7.70 crore in FY25 compared to FY24.

The Indian government is reportedly planning a significant overhaul of the GST structure, which could see the current 28 per cent GST rate on two-wheelers (and 31 per cent for those above 350cc) reduced to 18 per cent. This proposed "next-generation GST reform" aims to simplify the tax regime into primarily two slabs (5 per cent and 18 per cent) and is expected to make two-wheelers more affordable, especially for mass-market segments, providing a boost to sales and offering relief to consumers ahead of Diwali. While electric two-wheelers already enjoy a lower 5 per cent GST, this change could further stimulate the overall two-wheeler market by making petrol-powered options more competitive.

The company has a market cap of over Rs 900 crore. In June 2025, the President of India made a fresh entry and bought 21,000 shares or a 0.01 per cent stake. The stock gave multibagger returns of 880 per cent in 3 years and a whopping 8,200 per cent in 5 years.

Disclaimer: The article is for informational purposes only and not investment advice.