Heavy buying: Back-to-back upper circuit in this small-cap multibagger EV stock; Net profit zooms by 700 per cent!

Shares of the company have gained more than 190 per cent in the last six months.

Shares of Mercury EV-Tech Limited were locked in the upper circuit on Friday, gaining 5.00 per cent. The stock also made a fresh 52-week high of Rs 58.84. The stock has witnessed heavy buying activity from investors in the last few days. Hence, the stock is locked in the upper circuit.

The company posted strong Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 5.52 crore which grew by 77.62 per cent YoY. The operating profit of the company stood at Rs 1.12 crore, while the PAT of the company stood at Rs 0.59 crore, representing an impressive growth of 701.35 per cent YoY.

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Mercury EV-Tech Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 6.43 on November 10, 2022, to Rs 58.84 on November 10, 2023, an increase of about 700 per cent in a one-year holding period.

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Mercury EV-Tech is engaged in the manufacturing of electronic vehicles. The company introduced a range of EVs (electric vehicles) with the view to save the environment and conserve natural resources. The company’s flagship brand Thunderbolt has a huge product range with different models. It is the listed entity with a core segment of EV manufacturing. Catering to the age group of 18 to 60 years.

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