Share Market News: Shares of THIS company surge over 15 percent even as stock market remains volatile, check details here

According to BSE Analytics, the company's stock has gained more than 10 per cent in the past week and fallen more than 7 per cent in the past month.

Shares of Mercury Ev-Tech Ltd, a small-cap EV company, are surging more than 15% amid sluggish stock market trading on Friday. As of 10:33 am, the stock was trading at ₹36.39, up 15.16%, or ₹4.79, on the BSE. The company has a market cap of ₹687.89 crore. Recently, the board members of the company took a major decision and appointed Tejas K. Soni, a Chartered Accountant, as the statutory auditor of the company and Janaki Shah, Proprietor of SJV & Associates, as the scrutinizer.

According to BSE Analytics, the company’s stock has gained more than 10 per cent in the past week and fallen more than 7 per cent in the past month. The stock has fallen 56 per cent in the past year. However, the stock has gained more than 71 per cent in the last 3 years and more than 5245 per cent in the last 5 years.

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In the September quarter, the company’s operating revenue increased 11.36% year-on-year to ₹15.49 crore (approximately $1.44 billion), compared to ₹13.91 crore (approximately $1.39 billion) a year earlier. Total expenses in Q2 were ₹14.56 crore (approximately $1.45 billion), compared to ₹13.07 crore (approximately $1.07 billion) a year earlier. Net profit increased 28.36% year-on-year to ₹1.15 crore (approximately $1.15 billion), compared to ₹89.59 lakh (approximately $8.95 billion) a year earlier.

According to information on the company’s website, the company provides end-to-end solutions for all electric vehicle needs. The company manufactures key e-vehicle components, such as batteries, chassis, and motor controllers, in-house. The company also has a CED coating plant. Mercury EV Tech’s product portfolio ranges from two-wheelers to buses, loaders, and passenger vehicles.

Meanwhile, Foreign institutional investors offloaded equities worth Rs 2,549.80 crore on Thursday, while Domestic Institutional Investors (DIIs) bought stocks worth Rs 4,222.98 crore, according to exchange data.