Promoters hold over 50% stake: EV-stock under Rs 50 zooms over 19% on November 24; Here’s why!

On Monday, shares of Mercury EV-Tech Ltd zoomed 19.22 per cent to an Intraday high of Rs 44.10 per share from its previous closing of Rs 36.99 per share. The stock’s 52-week high is Rs 103.10 per share and its 52-week low is Rs 36.90 per share. The stock is up by 20 per cent from its 52-week low of Rs 36.90 per share. The company has a market cap of over Rs 700 crore. The stock gave multibagger returns of 570 per cent in 3 years and a whopping 7,000 per cent in 5 years with a Spurt in Volume by more than 5 times. 

The 39th Annual General Meeting (AGM) of the Members of Mercury EV-Tech Limited is scheduled for Monday, December 15, 2025, at 12:00 p.m. (IST) at the Company's Registered Office in Vadodara, Gujarat. The primary business of the meeting is to seek shareholder approval for a Special Resolution under Section 185 of the Companies Act, 2013. This resolution would authorise the Board of Directors to grant loans and advances, and/or provide guarantees or securities for loans taken by entities in which a director of Mercury EV-Tech Limited is interested.

The proposed resolution seeks approval for transactions with twelve identified related entities, including DC2 Mercury Cars Private Limited, Powermetz Energy Private Limited, Traclaxx Tractors Private Limited and EV Nest Private Limited. For each of these related entities, the aggregate outstanding amount for loans, guarantees, or securities is capped at Rs 200 crore at any point in time. These funds are intended to be utilised by the borrowing entities for purposes such as the sale and purchase of goods/services, working capital and Capex to support their Principal Business Activities, as mandated by the statutory provisions.

The company has also inaugurated a new showroom in Gujarat as part of its ongoing business expansion strategy. The new facility, located at Mahadev E-vehicle, Opp. Ashtha Bakery, Vadi plot, Porbandar, is expected to enhance the Company's market presence and outreach in the region.

About the Company

Mercury EV-Tech Ltd., established in 1986, is deeply invested in the manufacturing and trading of Electric Vehicles (EVs) and renewable energy products. The company boasts a diverse product profile, spanning electric scooters, cars and buses, as well as specialised electric vintage and Golf cars. It also develops custom EVs for the industrial and hospitality sectors. Driving aggressive growth, the company recently secured NCLT approval for its merger with EV Nest and obtained ICAT clearance for the "MUSHAK EV," a specialised 'Make in India' four-wheel goods carrier. To achieve a vertically integrated model and expand its market reach, Mercury EV-Tech is actively building a large lithium-ion battery facility in Vadodara and has strategically opened three new EV showrooms in Gujarat. The company positions itself as a proudly homegrown manufacturer, embodying the Aatma Nirbhar Bharat vision through a fully localised production ecosystem, from research to assembly.

Beyond manufacturing, the company emphasises long-term value creation through strategic expansion and a mission-driven approach. The year was marked by significant acquisitions, including stakes in Traclaxx Tractors, Haitek Automotive, Powermetz Energy and DC2 Mercury Cars, strengthening its capabilities across electric tractors, multi-fuel vehicles, advanced battery systems and premium EV design. This move is integral to creating a robust, vertically integrated EV ecosystem that enhances product innovation and market reach. The annual report also highlights the company’s commitment to fostering an inclusive, innovation-driven workplace, providing opportunities for skill development and career growth. With a product portfolio featuring popular high-speed scooters like DLX, VOLTUS and LEO+, alongside upcoming models like MUSHAK, Mercury EV-Tech is positioning itself as a forward-looking brand, building a movement toward a cleaner, more self-reliant India.

According to Quarterly Results, the net sales increased by 51 per cent to Rs 34.01 crore and net profit increased by 35 per cent to Rs 1.72 crore in Q2FY26 compared to Q1FY26. Looking at half-yearly results, the net sales increased by 142 per cent to Rs 56.58 crore and net profit increased by 43 per cent to Rs 2.99 crore in H1FY26 compared to H1FY26.

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