From Rs 44.02 To Rs 114.56 Per Share In Just 11 Months: Multibagger EV-Stock With 33,500 Per Cent Returns; Hit Upper Circuit On September 26
The stock gave multibagger returns of 135 per cent in just 1 year, 17,000 per cent in 3 years and a whopping 31,500 per cent in 5 years.
On Thursday, shares of Mercury EV-Tech Ltd hit a 5 per cent upper circuit to Rs 114.56 per share from its previous closing of Rs 109.11. The stock’s 52-week high is Rs 143.8 and its 52-week low is Rs 44.02.
Mercury EV-Tech Ltd, formerly known as Mercury Metals Limited, is involved in the manufacturing of electric scooters, electric cars, electric buses, electric vintage cars, electric golf cars, and electric vehicles in India. The company has a market cap of over Rs 2,000 crore and reported positive numbers in Quarterly Results (Q1FY25) and annual results (FY24).
The Board of Directors authorized the issuance of up to 1,57,41,000 equity shares and 4,83,00,000 convertible warrants to investors. Equity shares will be issued at Rs 75 per share to 44 investors, totalling Rs 118,05,75,000, while warrants will be issued at Rs 75 per warrant to 20 investors, totalling Rs 362,25,00,000. 100 per cent of the equity share issue price and 25 per cent of the warrant issue price must be paid upfront. Equity shares have a face value of Re 1 and a premium of Rs 74, while warrants are convertible into equity shares with the same face value and premium after 18 months. Both issues require member and regulatory approval.
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Additionally, The company announced that the Gujarat Energy Development Agency (GEDA) has granted us approval to market and distribute lithium-ion battery-powered e-rickshaws in Gujarat for the 2024-25 fiscal year. This endorsement is a major achievement for our company, confirming our innovative approach and high standards in the electric vehicle industry. Furthermore, its L5 and L3 category e-rickshaws have been officially approved for a subsidy of Rs 48,000 per vehicle when sold within Gujarat. This accomplishment underscores our leadership in promoting sustainable practices and strengthens our dedication to driving progress in the electric vehicle sector. It reaffirms our commitment to advancing technology and contributing to a greener future, positioning us as a leading force in the Gujarat electric vehicle market.
As of June 2024, the promoters of the company hold a 62.10 per cent stake, while the remaining 39.90 per cent is owned by the public. The stock gave multibagger returns of 135 per cent in just 1 year, 17,000 per cent in 3 years and a whopping 31,500 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.