Multibagger EV company Mercury Ev-Tech share price surged as much as 6.44 per cent to ₹49.72 apiece in Wednesday’s trading session on heavy trade volume.
The EV stock has largely remained volatile negative in the near-term. The stock has descended nearly 22.55 per cent in six months and 52 per cent in one year. However, the EV stock has rewarded its long-term investors with multibagger returns by soaring 7,547.69 per cent in five years.
What’s behind the rally?
In an exchange filing dated September 8, the company informed the exchanges that it has received approval to manufacture Mushak EV, which is a battery operated 4W goods carrier & N1.
According to the exchange filing, the key features of the vehicle are as follows –
1. Unbreakable body: – Ensures durability and safety.
2. 100% Make in India: – Entirely manufactured within India, supporting local industries.
3. Eligible for upcoming Government Subsidy: – Qualifies for forthcoming subsidies from the government.
The company further said on how the license will impact to the listed entity, “Regulatory Milestone Achieved: Marks a major step forward for the company. Growth Opportunities Unlocked: Creates new pathways for revenue and expansion. Market-Driven Product Launch: Addressing consumer needs while driving business growth. Operational Excellence: Strengthening overall performance and results.”
As per the quarterly results, net sales surged 482 per cent to ₹22.57 crore, while net profit rose 235 per cent to ₹1.63 crore in Q1FY26 compared with Q1FY25. For the full year, net sales jumped 307 per cent to ₹89.64 crore and net profit grew 286 per cent to ₹7.70 crore in FY25 over FY24.
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