Promoters Hold 59.17% Stake: EV-Stock Under Rs 50; Mercury Ev-Tech Limited, Jumps Over 7% on October 31

On Friday, shares of Mercury EV-Tech Ltd jumped 7.25 per cent to Rs 45 per share from its previous closing of Rs 41.96 per share with heavy volume. The stock’s 52-week high is Rs 118.70 per share and its 52-week low is Rs 39.20 per share. The stock is up by 14.8 per cent from its 52-week low of Rs 45 per share. The company has a market cap of over Rs 800 crore. The stock gave multibagger returns of 730 per cent in 3 years and a whopping 7,200 per cent in 5 years.

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Mercury Ev-Tech Limited has opened two new showrooms in Gujarat. The new locations are in Halol (Shop No. 1&2, Lilashah Avenue, Kanjari bypass, Vadodara-Godhra Road) and Rajkot (Shop - 1, West Gate Plus, 150Ft Ring Road, Nr. Raiya Cross Road, Rajkot - 360007). This expansion is part of the company's business strategy to increase its market presence and reach.

Mercury EV-Tech Ltd. has recently announced several key business developments, including the merger with EV Nest Private Limited. The National Company Law Tribunal (NCLT) in Ahmedabad approved the merger, which has an appointed date of April 1, 2023. This strategic move aims to expand the company's business operations and strengthen its market position. Additionally, Mercury EV-Tech has received a major regulatory approval from the International Centre for Automotive Technology to manufacture the "MUSHAK EV," a special-purpose, four-wheel goods carrier. This approval is a significant milestone that allows the company to move forward with the production and sale of this new vehicle.

To further its growth, the company is focusing on promoting its "Make in India" electric vehicles and building a vertically integrated business model. Mercury EV-Tech has opened a new EV showroom in Bhavnagar and is also constructing a large-scale lithium-ion battery facility in Vadodara. This will allow the company to produce key components in-house, giving it a competitive advantage and aligning with the "Atmanirbhar Bharat" (self-reliant India) initiative. The company's goal is to capture a significant share of India's growing EV and energy storage markets and position itself as a comprehensive manufacturer with export potential.

Financially, Mercury EV-Tech has shown robust growth. The company saw net sales surge by 307 per cent in FY2025 and continued this momentum with a 482 per cent increase in revenue in Q1FY26. This strong performance is complemented by the recent approval for its "MUSHAK EV" goods carrier, a 100 per cent "Make in India" vehicle. This regulatory milestone not only validates the company's product development but is also expected to unlock new growth avenues and drive further revenue expansion, strengthening its operational performance.

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