Heavy buying: This multibagger penny stock under Rs 35 hits upper circuit & fresh 52-week high!

In Q1FY24, the company reported a 326 per cent increase in net sales YoY.

Shares of Mercury Ev-Tech Limited were locked in the upper circuit today, gaining 5.00 per cent. In the last six months, the stock has gained about 100 per cent returns. On Thursday, the stock also made a fresh 52-week high at Rs 32.79.

The company posted brilliant Quarterly Results. The revenue of the company for Q1FY24 stood at Rs 7.25 crore which grew by 326.86 per cent YoY. The operating profit of the company stood at Rs 0.98 crore, while the PAT of the company stood at Rs 0.75 crore, representing an impressive growth of 12,350 per cent YoY.  

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 5.49 on August 24, 2022, to Rs 32.79 on August 24, 2023, an increase of about 460 per cent in one year holding period.  

Mercury Metals Limited is engaged in the business of manufacturing Electric scooters, Electric Car, Electric Bus, Electric Vintage cars, Electric Golf Car and Electric Vehicles in India. The company develops custom electric vehicles for a wide range of applications for the hospitality, industry, golf courses, clubs and Resorts etc.

The stock has shown tremendous growth, and investors should keep a close eye on this stock.