Gujarat-based multibagger EV-stock under Rs 60 surges over 9% on September 17

DSIJ Intelligence-1 / 17 Sep 2025/ Categories: Multibaggers, Trending

Gujarat-based multibagger EV-stock under Rs 60 surges over 9% on September 17

The stock gave multibagger returns of 415 per cent in 3 years and a whopping 8,355 per cent in 5 years.

On Wednesday, shares of Mercury EV-Tech Ltd surged 9.2 per cent to Rs 51 per share from its previous closing of Rs 46.71 per share with heavy volume. 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 13.33 per cent from its 52-week low of Rs 45 per share.

Mercury EV Tech has opened a new EV showroom in Bhavnagar, near Jashonath Circle, to serve as a hub for "Make in India" electric vehicles. Chairman Shri Jayesh Thakkar highlighted the company's commitment to creating a self-reliant and pollution-free India by offering a variety of electric vehicles, from two-wheelers to tempos. In addition to their in-house manufacturing capabilities for batteries and other components, the company is also developing a large lithium-ion battery facility in Vadodara to capitalise on the growing EV and battery energy storage system (BESS) markets.

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.

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Mercury EV-Tech Ltd has announced a significant business update, having received approval from the International Centre for Automotive Technology to manufacture the "MUSHAK EV." This is a special-purpose, battery-operated, four-wheel goods carrier that falls under the N1 category. The vehicle has a Gross Vehicle Mass (GVM) of 2085 kg, a seating capacity for two people, and a maximum speed of 69 KMPH. This approval represents a major regulatory milestone for the company and is valid in perpetuity. The MUSHAK EV's key features include an unbreakable body and being 100 per cent "Make in India." Additionally, the vehicle is eligible for upcoming government subsidies. The company anticipates that this approval will unlock new growth opportunities, drive revenue expansion, and strengthen its overall operational performance.

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 415 per cent in 3 years and a whopping 8,355 per cent in 5 years.

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