Share of THIS company gains around 7 percent amid volatility in markets – Check price and other details

Mercury Ev-Tech has also opened a new EV showroom in Bhavnagar and is constructing a large lithium-ion battery manufacturing plant in Vadodara.

Shares of small-cap EV stock Mercury Ev-Tech witnessed a massive 7% rally today. However, the stock lost its initial gains and was trading at Rs 43.79, up 4.36% or Rs 1.83 on the BSE at 11:31 am.

According to BSE data, 2,18,575 equity shares of the company were traded as of 11:04 am. The stock opened at Rs 41.96 on the BSE today and has touched an intraday high of Rs 45. The company’s market cap currently stands at Rs 831.13 crore.

Recently, the company has made several significant business moves, including announcing a merger with EV Nest Private Limited, which was approved by the National Company Law Tribunal (NCLT) in Ahmedabad.

In addition, the company has received approval from the International Centre for Automotive Technology (ICAT) to manufacture a special-purpose four-wheeler goods carrier vehicle called ‘MUSHAK EV.’ This approval represents a significant milestone for the company, providing it with the opportunity to advance the production and sales of this new vehicle.

Further, to drive its growth, the company is focusing on promoting ‘Make in India’ EVs and building a vertically integrated business model. Mercury Ev-Tech has also opened a new EV showroom in Bhavnagar and is constructing a large lithium-ion battery manufacturing plant in Vadodara.

According to BSE Analytics, the company’s stock has risen more than 3 per cent in the past week. It has fallen more than 6 per cent in the past month, more than 11.5 per cent in the past three months, more than 31 per cent in the past six months, and more than 60 per cent in the past year.

However, in the past three years, the stock has returned 746 per cent, multiplying investors’ money eight times. Furthermore, the stock has risen 7320 per cent in the past five years.